a. A mutual fund had average daily assets of $700,000,000 last year. The fund sold $87,000,000 worth of stock and purchased $100,000,000 during the year. What was the turnover ratio? b. You want to purchase 1000 shares of a mutual fund that currently sell for $100 per share and the fund has a front-end load of 2% and back-end load of 1%. If the securities in which the fund invested increased in value by 10% during the year, and the funds expense ratio was 0.95%, what is the return of the fund if you sell your shares at the end of the year? c. I buy a mutual fund that states it is an index fund that is indexing the S&P 500. From what we discussed in class, will this mutual fund have the same return as the actual S&P 500 index? Briefly explain your answer. d. You are going to put money away for retirement each month when you start work. Based on our class discussion, you are going to put money either into a Wilshire 5000 ETF or a Vanguard mutual fund that indexes the Wilshire 5000. The Wilshire 5000 ETF will probably provide a slightly higher return than Vanguard's indexed mutual fund. From our class discussion, briefly explain which one may be the better choice for investors