You have invested $1,000 in a mutual fund. A 2% front-end load was deducted from your total investment (i.e., you did not pay the load separately). The fund has no back-end loads, but has a 75 basis point management fee and 10 basis points in 12 b 1 fees.

If the assets in the fund grow at 8 percent each year, how much will your investment be worth at the end of 5 years? What was your total net annualized return for the 5 year period?