A benchmark market value index is comprised of three stocks. Yesterday the three stocks were priced at $16, $26, and $55. The number of outstanding shares for each is 750,000 shares, 650,000 shares, and 350,000 shares, respectively. If the stock prices changed to $20, $24, and $57 today respectively, what is the 1-day rate of return on the index?
A benchmark market value index is comprised of three stocks. Yesterday the three stocks were priced at $16, $26, and $55. The number of outstanding shares for each is 750,000 shares, 650,000 shares, and 350,000 shares, respectively. If the stock prices changed to $20, $24, and $57 today respectively, what is the 1-day rate of return on the index?
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter8: Basic Stock Valuation
Section: Chapter Questions
Problem 14P
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A benchmark market value index is comprised of three stocks. Yesterday the three stocks were priced at $16, $26, and $55. The number of outstanding shares for each is 750,000 shares, 650,000 shares, and 350,000 shares, respectively. If the stock prices changed to $20, $24, and $57 today respectively, what is the 1-day
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