You have $7,000.00 to invest and must choose between a no-load, open-end mutual fund with an annual expense ratio of 0.90 percent but no transaction cost and an ETF with an annual expense ratio of 0.10 percent and a transaction cost of $20.00. a. Calculate which is the lower cost alternative to purchase. b. Calculate the net proceeds associated with each option if you hold the mutual fund for 6 months and sell after a gain of 8 percent per 6 months. c. Calculate the net proceeds associated with each option if you hold the mutual fund for 1 year and achieve a gain of 7 percent per year. d. Calculate the net proceeds associated with each option if you hold the mutual fund for 1 year and experience a loss of 6 percent per year. a. Calculate which is the lower cost alternative to purchase. (Select the best answer below.) A. The cost is $0 to purchase the no-load fund versus $20 to purchase the ETF. Regardless of the initial investment amount, the lower cost alternative to purchase is the no-load, openend mutual fund. B. The cost is $0 to purchase the ETF versus $20 to purchase the no-load fund. Regardless of the initial investment amount, the lower cost alternative to purchase is the ETF. b. If you hold the mutual fund for 6 months and sell after a 6 -month gain of 8%, the net proceeds associated with the no-load fund are $. (Round to the nearest cent.) If you hold the mutual fund for 6 months and sell after a 6-month gain of 8%, the net proceeds associated with the ETF are $ (Round to the nearest cent.) c. If you hold the mutual fund for 1 year and sell after a 1-year gain of 7%, the net proceeds associated with the no-load fund are $. (Round to the nearest cent.) If you hold the mutual fund for 1 year and sell after a 1-year gain of 7%, the net proceeds associated with the ETF are $. (Round to the nearest cent.) d. If you hold the mutual fund for 1 year and sell after a 1-year loss of 6%, the net proceeds associated with the no-load fund are $. (Round to the nearest cent.) If you hold the mutual fund for 1 year and sell after a 1-year loss of 6%, the net proceeds associated with the ETF are $ (Round to the nearest cent.)