Assume you invest $100,000 in a mutual fund for two years. The front load commission charge is 3% deducted upfront from the original funds invested. The annual fund management fees of 0.2% are charged on the average net asset value of the fund (beginning and end of the year). Investment in the fund gives you 5% annually paid at the end of the year. Calculate:

a.Value of the investment at the beginning of year 1

b.Value of the investment at end of year 1

c.Value of the investment at end of year 2

d.Total fees paid

e.Your annual return on this investment