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8 May, 07:55

on march 5, 2013, the dow jones industrial average set a new high. the index closed at 14,253.77, which was up 125.95 that day. What was the return (in percent) of the stock market that day

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  1. 8 May, 11:35
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    0.89%

    Explanation:

    The computation of the return of the stock market is shown below:

    As we know that

    Future value = Present value * (1 + interest rate) ^number of years

    where,

    Future value = $14,253.77

    Present value = $14,253.77 - 125.95 = $14,127.82

    So,

    $14,253.77 = $14,127.82 * (1 + interest rate) ^1

    So, interest rate is

    = 1.0089 - 1

    = 0.89%
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