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Loaded - Up Fund charges a 1 2 b - 1 fee of 1 % and maintains an expense ratio of 0 . 6 0

Loaded-Up Fund charges a 12b-1 fee of 1% and maintains an expense ratio of 0.60%. Economy Fund charges a front-end load of 2%, but has no 12b-1 fee and has an expense ratio of 0.40%. Assume the rate of return on both funds portfolios (before any fees) is 5% per year.Required:a. How much will an investment of $100 in each fund grow to after 1 year?Loaded up fund = $ ____Economy fund = $ ____

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