Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A benchmark index has three stocks priced at $23, $43, and $56. The number of outstanding shares for each is 350,000 shares, 405,000 shares, and

A benchmark index has three stocks priced at $23, $43, and $56. The number of outstanding shares for each is 350,000 shares, 405,000 shares, and 553,000 shares, respectively. If the market value weighted index was 970 yesterday and the market capitalization was $56,433,000, what is the index price today?

a) 960

b) 970

c) 975

d) 985

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Smart Diversification

Authors: Fuquan Bilal

1st Edition

979-8986481609

More Books

Students also viewed these Finance questions

Question

Who is involved?

Answered: 1 week ago