Tamara purchased 1,500 shares of a mutual fund at an offer price of $7.08 per share. Later she sold the investment for $10.02 per share. During the time Tamara owned the shares, the fund paid a dividend of $0.21 per share. What was her return on investment? (Round to nearest tenth percent)

Answer: Return of investment = 44.5%Step-by-step explanation:Number of shares purchased by Tamara = 1500 Offer price per share = 7. 08Total amount spent on purchasing shares = 1500 × 7.08 = 10620Dividend receive per share = 0.21Total dividend received on 1500 shares = no. of shares × dividend received per shareTotal dividend received = 1500 × 0.21 = 315Selling price per share = 10.02Amount received by Tamara by selling the investment = no. of shares × selling price per shareAmount received by Tamara by selling the investment = 1500 × 10.02 = 15030Now, Net profit received on investment = S.P of Investment + Dividend received - C.P of investmentNet profit = 15030 + 315 - 10620 = 15345 - 10620 = 4725Return on investment = [tex]\frac{Net\ profit}{Cost\ of\  investment} \times 100[/tex]= [tex]\frac{4725}{10620} \times 100 = 44.49%[/tex] ≈ 44.5 %