7) The S&P (Standard & Poors) 500 is a capitalization weighted (cap weighted) index of the common stocks of the 500 largest companies traded on US stock exchanges. The market capitalization of each stock is determined by taking the share price and multiplying it by the number of shares outstanding. The companies with the largest market capitalizations, or the greatest values, will have the highest weights in the index. The weight of a company in the index is equal to the market cap of that company divided by the total market cap of all the companies in the index. For example, as of September 30, 2016, the largest constituent of the S&P 500 index was Apple (Nasdaq: AAPL) with a weight of 3.2% of the total index. The top ten constituents of the S&P 500 index comprised 18.1% of the index. An equal weighted index is just as it sounds. Every stock in the index has the same weight, regardless of how large or small the company is. Therefore, even Apple will have the same weight (0.2%) as the smallest company that is a constituent in the S&P 500. On January 20, 2009, President Obama was sworn in as 44th president of the US. On that day, the S&P 50 index closed at 805.22, On November 8, 2016, the S&P closed at 2,139.56. This was the last market close before it was known that Donald Trump had been elected president of the US. What was the compound annual growth rate of the S&P during that time period? For comparison, consider that George Bush was sworn in on January 20, 2001 (a Saturday). The S&P closed the previous day at 1,342.54. The S&P 500 index closed at 1,005.75 on November 4, 2008 which the last trading day before it was known that Barak Obama had been elected president. What as the compound annual growth rate of the S&P Index during Bush's tenure in office. What was the compound annual growth rate of the S&P Index during the entire time