Patricia has $30,000 to invest in a mutual fund whose annual returns are normally distributed with a mean of 5% and standard deviation of 4.2%.

a. Use Excel's Analysis ToolPak, with a seed of 1, to simulate 5,000 trials to estimate the mean balance after one year.

Note: Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places.

b. What is the probability of a balance of $32,000 or more?

Note: Round intermediate calculations to at least 4 decimal places and show your final answer as a percentage point with 2 decimal places.

c. Compared to another investment option at a fixed annual return of 3% per year, what is the probability of getting at least the same balance from the mutual fund after one year?

Note: Round intermediate calculations to at least 4 decimal places and show your final answer as a percentage point with 2 decimal places.