You have $$7200$ to invest and must choose between a no load, open and mutual fund with an annual expense ratio of $0\mathrm{.}85\%$ but no transaction cost and an ETF with an annual expense ratio of $0\mathrm{.}25\%$ and a transaction cost of $$20.$ Calculate which is the lower cost alternative to purchase. Calculate the net proceeds associated with each option if you hold the mutual fund for six months and sell after a gain of $8\%$ per six months. Calculate the net proceeds associated with each option if you hold the mutual fund for one year and achieve gain of $7\%$ per year.