Ln(1+x/y) {convex} .* {convex}

You can try whatever you want. But rather than ad hoc Taylor Series or Successive Convex Approximation /Difference of Convex (Concave), you may be better offer using a non-convex solver, for instance, under YALMIP.

If your ad hoc approach doesn’t work well, you’re own your own.

On the other hand, if the formulation at Cvx DCP error:%{real affine} .* {convex} is what you really want, that is a convex optimization problem which can be entered in CVX.