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A benchmark market value index is comprised of three stocks. Yesterday the three stocks were priced at $30, $35, and $70. The number of outstanding
A benchmark market value index is comprised of three stocks. Yesterday the three stocks were priced at $30, $35, and $70. The number of outstanding shares for each is 700,000 shares, 500,000 shares, and 300,000 shares, respectively. If the stock prices changed to $28, $30, and $82 today respectively, what is the 1-day rate of return on the index? (Please show your work)jj
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