3. You are considering an investment in a mutual fund with a 5% front load and an expense ratio of 0.85%. You can invest instead in a bank CD paying 7% interest. (a) If you plan to invest for two years, what annual rate of return must the fund portfolio earn for you to be better off in the fund than in the CD? Assume annual compounding of returns. (b) If you plan to invest for six years, what annual rate of return must the fund portfolio earn for you to be better off in the fund than in the CD? Assume annual compounding of returns. (c) Now suppose that instead of a front-end load, the fund assesses a 12b1 fee of 1.10% per year. What annual rate of return must the fund portfolio earn for you to be better off in the fund than in the CD