Fidelity Mutual Fund charges a one-time 6.8% upfront load plus reports an expense ratio of 1.

Fidelity Mutual Fund charges a one-time 6.8% upfront load plus reports an expense ratio of 1.24%. If an investor plans on holding the fund for 20 years, what is the average annual fee, as a percent, paid by the investor?

1.58%

1.89%

1.76%

1.67%