Wilbur is a college student who desires to establish a long-term Roth IRA account with $4,000 that his grandmother gifted to him. He intends to invest the money in a mutual fund that earns an expected 5% per year on his account (this is a very conservative estimate). The sales agent says, "There is a 5% up-front commission (payable now) on a Class A account, which every year thereafter then charges a 0.61% management fee. A Class B account has no up-front commission, but its management fee is 2.35% in year one, 0.34% in year two, and 1.37% per year thereafter." Assume that management fee is charged on the beginning-of-the-year account balance but paid at the end of each indicated year. Determine how many years are required before the worth of the Class A account overtakes (is preferred to) the Class B account. Investment Amount Interest Rate Class A Up-front Commission Management Fee Class B Up-front Commission Management Fee in Year 1 Management Fee in Year 2 Management Fee in Years 3-10 $4,000 5% 5% 0.61% 0% 2.35% 0.34% 1.37% Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. Account Value at EOY Year 0 Class A Class B 1 2 3 4 5 6 7 8 9 10 For the first time, the worth of the Class A account overtakes the worth of the Class B account in year