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Find the rate of return on this load fund

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Problem - Calculating mutual fund approximate rate of return. A year ago, the Constellation Fund was being quoted at an NAV of $21.50 and an offer price of $23.35; today, it's being quoted at $23.04 (NAV) and $25.04 (offer). Use the approximate yield formula or a handheld financial calculator to find the rate of return on this load fund; it was purchased a year ago, and its dividends and capital gains distributions over the year totaled $1.05 a share.

Reference no: EM132696018

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