You invest in a mutual fund that charges a 3% front-end load, 1% total annual fees, and a 0% back-end load on Class A shares. The same fund charges a 0% front-end load, 1% total annual fees, and a 2% back-end load on Class B shares. What are the total fees in year 1 on a Class A investment of $20,000 with no growth in value?

A) $658
B) $794
C) $885
D) $902

Front-end Load

A fee charged to investors when they purchase shares in a mutual fund, usually used to compensate brokers or sales agents.

Back-end Load

A fee charged to investors when they redeem shares from a mutual fund, typically used to compensate financial advisors.

Annual Fees

Regular charges imposed once a year for the use of a service or the participation in an investment or credit facility.