Suppose an individual invests $50,000 in a load mutual fund for two years. the load fee entails an up-front commission charge of 3 percent of the amount invested and is deducted from the original funds invested. in addition, annual fund operating expenses (or 12b-1 fees) are 0.70 percent. the annual fees are charged on the average net asset value invested in the fund and are recorded at the end of each year. investments in the fund return 8 percent each year paid on the last day of the year. if the investor reinvests the annual returns paid on the investment, calculate the annual return on the mutual fund over the two-year investment period. (do not round intermediate calculations. round your answer to 3 decimal places.

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.