You invest $4,000 annually in a mutual fund that earns 10% annually and you reinvest all distributions. How much will you have in your account at the end of 15 years considering the following load or fees?

a) The mutual fund has no load or fees. How much will you have at the end of 15 years?

b) The mutual fund charges a 5% front-end load. How much will you have at the end of 15 years?

c) The mutual fund has no load, but charges an annual 12b-1 fee of 1%. How much will you have at the end of 15 years?

d) The mutual fund has no load or 12b-1 fees, but charges a 5% exit fee when the investor sells the fund. How much will you have at the end of 15 years?

Please show your work.