n March 5, 2013, the Dow Jones Industrial Average set a new high. The index closed at 17,164.53, which was up 127.20 that day. What was the return (in percent) of the stock market that day? (Round your answer to 2 decimal places.)

The return (in percent) of the stock market that day is 0.75%

Explanation:

The computation of the return is shown below:

Interest rate is

= (Future value ÷ Present value) - 1

= ($17,164.53 ÷ ($17,164.53 - $127.20) - 1

= ($17,164.53 ÷ $17,037.33) - 1

= 0.75%

Hence, the return (in percent) of the stock market that day is 0.75%

We simply applied the above formula and the same is to be considered

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