About a year ago, Ramon Navarrete bought some shares in the Saphire Lake Mutual Fund....
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Finance
About a year ago, Ramon Navarrete bought some shares in the Saphire Lake Mutual Fund. He bought the fund at $25.50 a share, and it now trades at $26.30. Last year the fund paid dividends of 72 cents a share and had capital gains distributions of $2.50 a share. Using the approximate yield formula, what rate of return did Ramon earn on his investment?
Round the answer to two decimal places. 15.52 %
Repeat the calculation using a handheld financial calculator. Round the answer to two decimal places. ______%
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