A benchmark equally weighted index is comprised of three stocks. Yesterday the three stocks were priced at $12, $20, and $60. The number of outstanding shares for each is 600,000 shares, 500,000 shares, and 200,000 shares, respectively. If the stock prices changed to $15, $18, and $62 today respectively, what is the 1-day rate of return on the index? Group of answer choices 4.65% 5.26% 8.89% 6.11%

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Ef 51.

A benchmark equally weighted index is comprised of three
stocks. Yesterday the three stocks were priced at $12, $20, and
$60. The number of outstanding shares for each is 600,000
shares, 500,000 shares, and 200,000 shares, respectively. If the
stock prices changed to $15, $18, and $62 today respectively,
what is the 1-day rate of return on the index? Group of answer
choices 4.65% 5.26% 8.89% 6.11%
Transcribed Image Text:A benchmark equally weighted index is comprised of three stocks. Yesterday the three stocks were priced at $12, $20, and $60. The number of outstanding shares for each is 600,000 shares, 500,000 shares, and 200,000 shares, respectively. If the stock prices changed to $15, $18, and $62 today respectively, what is the 1-day rate of return on the index? Group of answer choices 4.65% 5.26% 8.89% 6.11%
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