Case Study 1: Philip Anderson - Pg 216-217

Table A Three investment alternatives Column1 investment load or commission average annual total returns over last 5 years (including management fees) risk management fees alternative a growth fund from large investment company none 10.73% moderate 0.40% Table A Three investment alternatives alternative b alternative c growth fund from Stuart & Co 5% front end Exchange traded fund 3% to purchase; 3% to sell 10.62% moderate 1.20% 11.01% moderate none