General accounting question On March 15, 2023, the Nasdaq Composite Index had a significant rally. Theindex closed at 12,568.32, which was up 231.77 points for the day. What wasthe return (in percent) of the stock market that day?

To calculate the return (in percent) for the Nasdaq Composite Index on March 15, 2023, we use the…

Answered: On March 15, 2023, the Nasdaq Composite…

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter9: Stocks And Their Valuation

Section: Chapter Questions

Problem 1TCL

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On March 15, 2023, the Nasdaq Composite Index had a significant rally. The index closed at 12,568.32, which was up 231.77 points for the day. What was the return (in percent) of the stock market that day?