4-The Investments Fund sells Class A shares with a front-end load of 6% and an MER of 1% ADMN3700 HW1 3 annually, and Class B shares with an MER of 1.75% annually as well as back-end load fees that start at 5% and fall by 1% for each full year the investor holds the portfolio (until the fifth year). Assume the portfolio rate of return before operating expenses is 13% annually and you have $1,000 to invest in each Class of shares.

a-1. If you invest in each fund and sell after 4 years, how much will you receive from each sale?

a-2. Are Class A or Class B shares the better choice for you?

b-1. If you invest in each fund and sell after 14 years, how much will you receive from each sale?

b-2. Are Class A or Class B shares the better choice for you?