Assignment: Billingsley End-of-Chapter Problems Chapter 13 Assignment Score: 0.00% Save Submit Assignment for Grading Questions Question 3 of 3 Check My Work (1 remaining) 2. eBook Chapter 13 Financial Planning Exercise 9 Calculating approximate yield on mutual fund About a year ago, Ramon Navarrete bought some shares in the Saphire Lake Mutual Fund. He bought the fund at $25.00 a share, and it now trades at $26.00. Last year the fund paid dividends of 60 cents a share and had capital gains distributions of $2.70 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 if the stock had risen to $30 a share? Select Check My Work (1 remaining 0-Icon Key