Massive Mutual Fund has an expense ratio of 1.00 percent per year. Modest Mutual Fund has a lower expense ratio of 0.25%, but also has a front-end load of 1.50%. Suppose that the annual rate of return on both funds is 5%, before fees.

a. How much will an investment in each fund grow to after 1 year?

b. How much will an investment in each fund grow to after 4 years?

c. How much will an investment in each fund grow to after 12 years?