eBook Chapter 13 Financial Planning Exercise 9 Calculating approximate yield on mutual fund About a year ago, Ramon Navarrete bought some shares in the Sapphire Lake Mutual Fund. He bought the fund at $25.60 a share, and it now trades at $26.30. Last year the fund paid dividends of 51 cents a share and had capital gains distributions of $1.03 a share a. Using the approximate yield formula, what rate of return did Ramon earn on his investment? Round the answer to two decimal places % b. Repeat the calculation using a handheld financial calculator Round the answer to two decimal places. c. Would he have made a 20% rate of return of the stock had risen to $30 a share? Previous