Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A market value weighted index has three stocks in it, call them A, B, and C, priced at 53, 83, and 69 per share. Each
A market value weighted index has three stocks in it, call them A, B, and C, priced at 53, 83, and 69 per share. Each firm has 404, 282 and 458 thousand shares outstanding, respectively. The value of the index at that time is 804. Over the course of the next quarter, the prices of the three stocks change to 99, 62, 38, respectively. What is the new value of the index?
Enter answer accurate to two decimal places..
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started