Answer:
4.46%
Explanation:
The computation of the one day rate of return on the index is as follows;
Return = (Index Value Today - Index Value Yesterday) ÷ Index Value Yesterday
where,
Index Value Yesterday is
= ($20 × 660,000 + $28 × 560,000 + $65 × 260,000)
= $13,200,000 + $15,680,000 + $16,900,000
= $45,780,000
And,
Index Value Today is
= ($24 × 660,000 + $26 × 560,000 + $67 × 260,000)
= $15,840,000 + $14,560,000 + $17,420,000
= $47,820,000
Now the return is
= ($47,820,000 - $45,780,000) ÷ ($45,780,000)
= 4.46%
