You are considering an investment in a mutual fund with a 4%
front-end load. The fund charges a back-end load of 5, 4, 3, 2, and
1 percent if the shares are redeemed within the first 5 years,
respectively. The expense ratio of 0.5%. Alternatively, you can
invest instead in a bank saving account paying 6% interest per
year.
1. If you plan to invest for 3 years, what annual rate of return
must the fund portfolio earn for you...