John is the beginner investor. The table given below illustrates his portfolio holdings and market values for each holding. Compute John’s weighted average return for his portfolio.
Market Value Rate of Return
Junk Bond Fund $ 13,000.00 7.50%
Gold Fund $ 19,500.00 12.00%
Small Cap Fund $ 36,000.00 3.40%
Index Fund $ 9,800.00 6.20%
CD $ 41,000.00 1.00%