I. You are considering an investment in a mutual fund (class A) with a front-end load of 3% and an expense ratio of 1.0%. You can invest instead in a bank CD with an interest rate of 1% per annum. (a) If you plan to invest for 3 years, what annual gross rate of return (96; before the expense ratio) must the fund portfolio earn for you to be better off in the mutual fund than in the CD? Assume annual compounding of returns. (b) How does you answer change if you plan to invest for 6 years? (c) If an investor has $10,000 to invest in this fund (class A) initially and the gross rate of return is 4% per annum (before the expense ratio). If the investor plans to sell the fund at the end ofthe third vear, calculate the final portfolio value (S) for the investor