You are considering an investment in a mutual fund with a $3\%$ load and an expense ratio of $0\mathrm{.}95\%.$ You can invest instead in a bank CD paying $5\%$ interest.

Required:

a$.$ If you plan to invest for two years, what annual rate of return must the fund portfolio earn for you to be better off in the fund than in the CD$?$ Assume annual compounding of returns. $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

b$.$ If you plan to invest for six years, what annual rate of return must the fund portfolio earn for you to be better off in the fund than in the CD$?$ Assume annual compounding of returns. $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

c$.$ Now suppose that instead of a front$-$end load the fund assesses a $12$b$-1$ fee of $1\mathrm{.}20\%$ per year. What annual rate of return must the fund portfolio earn for you to be better off in the fund than in the CD$?($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$