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You are considering an investment in a mutual fund with a 7%load and an expense ratio of 0.5%. You can invest instead in a bankCD paying 3% interest. a. If you plan to invest for 5 years, whatannual rate of return must the fund portfolio earn for you to bebetter off in the fund than in the CD? Assume annual compounding ofreturns. (Do not round intermediate calculations. Round your answerto 2 decimal places.) b. What annual rate of return must the fundportfolio earn if you plan to invest for 7 years to be better offin the fund than in the CD? (Do not round intermediatecalculations. Round your answer to 2 decimal places.) c. Nowsuppose that instead of a front-end load the fund assesses a 12b-1fee of .75% per year. What annual rate of return must the fundportfolio earn for you to be better off in the fund than in theCD