The index rises 4.9% over the course of the day. What is the value of the index at the end of the day? Round your answer to the
2 answers:
Answer: $70400
Step-by-step explanation:
Attached is the question:
Based on the information given in the question:
Value of Stock X = 5000 × $4.30 = $21500
Value of Stock Y = 2000 × $3.20 = $6400
Value of Stock Z = 8000 × $4.90 = $39200
Total Stock Value = $67100.
Since there's a 4.9% increase in value of index, the value of the index at end of the day will be:
= $67100 × (100% + 4.9%)
= $67100 × 104.9%
= $67100 × 1.049 =
= $70388
= $70400 approximately
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