I am trying to calculate the cost of a $10,000 investment. I can calculate this easily without accounting for annual operating expenses. Does anyone know how to add this into the calculation?
Here is my example:



Beginning Investment $10,000.00
Annual Return 5.00%
Annual Operating Expenses 1.00%
Number of Compounding Periods Per Year 1
Number of Years 10
Profit on Investment $3,439.16
Total Investment Value $13,439.16

My formula in cell B6 to calculate the profit on investment is as follows:

=(B1*(1+B2/B4)^(B4*B5)-B1)

I am a lost on how to add in the annual operating expenses into this equation.

Please help!