7 is correct but 8 I do not know how to solve it I only need Q8 Use the following information to answer questions 7-8 Stock P Shares Outstanding 50 S49 $60 S58.75 S60 $15 S15.30 $1745 250 425 1 points 7. (1 point) What is the rate of returm on a price-weighted index between day 1 and day 2? What is rate of retum on a price-weighted index between day 2 and day 3? stock P P2 P3 S.O Initial value of Final value $45 $47.50 $49 250 45 250-11250 49 250-12250 $60 S58.75 $60 425 60 425-25500 60 425-25500 700 15 700-10500 1745* 700-12215 total Rate of return on a price-weighted index between day 1 and day 2 Initial value $45-60+15 S120 Final value $47.5058.75 15.30- $12155 % change in portfolio (121.55-120/120 Initial index value $4560+15 Final index value $47.50 +58.75+15.30 40.52 % change in index 40.52-40 40 Rate of return on a price-weighted index between day 2 and day 3 Initial value -42. % change in index 42.15-40.52 40.52 4.0% points 8. (I point) Construct a value-weighted index with an initial value of 2,000. What is the rate of return on the index between day 1 and day 2 and between day 2 and day 3? What is the value of the index after each day