11 1 You Can Buy Vanguard S Samp P 500 Fund With An Annual Operating Expense Of

11-1 You can buy Vanguard’s S&P 500 fund with an annual operating expense of 0.18 percent, or you can buy Morgan Stanley’s S&P 500 fund with an annual operating expense of 1.40 percent. Given S&P 500 total returns for 2007-2011 of 5.49, 36.6, 26.46, 15.06, and 2.1 respectively, determine how much $10,000 invested in each fund on January 1, 2007, would be worth on December 31, 2011. 

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