You are going to invest in a stock mutual fund with a 4 percent front-end load and a 1.31 percent expense ratio. You also can invest in a money market mutual fund with a 4.6 percent return and an expense ratio of 0.2 percent. If you plan to keep your investment for 12 years, what annual percentage rate of return must the stock mutual fund earn to exceed an investment in the money market fund

You are the manager of a large crude-oil refinery. as part of the refining process, a certain heat exchanger (operated at high temperatures and with abrasive material flowing through it) must be replaced every year. the replacement and downtime cost in the first year is $165 comma 000. this cost is expected to increase due to inflation at a rate of 7% per year for six years (i.e. until the eoy 7), at which time this particular heat exchanger will no longer be needed. if the company's cost of capital is 15% per year, how much could you afford to spend for a higher quality heat exchanger so that these annual replacement and downtime costs could be eliminated?