You are considering an investment in a mutual fund with a 7% load and expense ratio of 0.1%. You can invest instead in a

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You are considering an investment in a mutual fund with a 7%load and expense ratio of 0.1%. You can invest instead in a bank CDpaying 1% interest.a. If you plan to invest for 3 years, whatannual rate of return must the fund portfolio earn for you to bebetter off in the fund than in the CD? Assume annual compounding ofreturns. (Do not round intermediate calculations.Round your answer to 2 decimal places.)
b. What annual rate of return must thefund portfolio earn if you plan to invest for 5 years to be betteroff in the fund than in the CD? (Do not roundintermediate calculations. Round your answer to 2 decimalplaces.)
c. Now suppose that instead of a front-endload the fund assesses a 12b-1 fee of .80% per year. What annualrate of return must the fund portfolio earn for you to be betteroff in the fund than in the CD? (Do not roundintermediate calculations. Round your answer to 2 decimalplaces.)