You pay $$20,000$ to an open$-$end fund and the fund then deducts a front$-$end load of $4\%.$ The securities in the fund increase in value by $10\%$ during the year. The fund's expense ratio is $0\mathrm{.}5\%$ and is deducted from year$-$end asset values. Compute the rate of return on your investment if you sell your shares at the end of the year.

Consider a fund that sells Class A shares with a front$-$end load of $5\%$ but no $12b-1$ fees. The fund also offers Class B shares which have a $12b-1$ fee of $1\%$ annually but are no$-$load. Assume a $10\%$ annual return net of expenses before the $12b-1$ fee is applied for both Class A and Class B shares. Compute the amount a $$1,000$ investment in each class of shares will grow to after five years.

$5=\frac{1}{32000}$