1- Summarize the main fees a mutual fund investor will pay: 2- Describe two justifications for the need for professional financial planning advice

3- 5. Your client would like a $1.5 million life insurance policy with the following relevant information:
 Premium is $18,500 per year
 Expected dividends per year: $1,600
 Cash value 10 years from now: $40,000
 Discount rate: 5%

a. Given this information, compute the Net Cost of the policy over the next 10 years. Compute the cost per year, per $1,000 of coverage. (3 points)

b. Compute the policy’s Interest-Adjusted Cost over the next 10 years, per year, per $1,000 of coverage. (4 points)

c. Suppose the cash value at the end of the most recent (previous) year is $3,700, and the cash value at the end of the current year will be $7,000. Compute the policy’s cost per $1,000 of coverage using the Benchmark Method. (4 points)