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Question $8$

$20$ points

You are going to invest in a stock mutual fund with a $6\mathrm{.}5$ percent front$-$end load and a $1\mathrm{.}75$ percent expense ratio. You also can invest in a money market mutual fund with a $3\mathrm{.}50$ percent return and an expense ratio of $10$ percent.

If you plan to keep your investment for eight years, what annual return must the stock mutual fund earn to exceed an investment in the money market fund?