Many retirement funds charge an administrative fee equal to​ 0.25% on managed assets. Suppose that Alexx and Spenser each invest ​$7 comma 000 in the same stock this year. Alexx invests directly and earns 7​% a year. Spenser uses a retirement fund and earns 6.75​% Part 2 If Alexx and Spenser leave their investments in place for 30​ years, with annual compounding of the​ interest, how much more will Alexx have than Spenser at the end of the​ 30-year period? Part 3 Alexx will have ​$    enter your response here ore than Spenser after 30 years. ​(Enter your response rounded to two decimal​ places.). Answer detailed in step by step method and don't use AI I will downvote

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Many retirement funds charge an administrative fee equal to​ 0.25% on managed assets. Suppose that Alexx and Spenser each invest ​$7 comma 000 in the same stock this year. Alexx invests directly and earns 7​% a year. Spenser uses a retirement fund and earns 6.75​% Part 2 If Alexx and Spenser leave their investments in place for 30​ years, with annual compounding of the​ interest, how much more will Alexx have than Spenser at the end of the​ 30-year period? Part 3 Alexx will have ​$    enter your response here ore than Spenser after 30 years. ​(Enter your response rounded to two decimal​ places.). Answer detailed in step by step method and don't use AI I will downvote
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