On November 27, 2007, The Dow Jones Industrial Average closed at 12,958.44, which was up 215.04 that day. What was the return (in percent) of the stock market that day? A. - 0.017 percentB. + 0.017 percentC. - 1.69 percentD. + 1.69 percent

Question

Brennen Gill

Business

18 October, 08:39

On November 27, 2007, The Dow Jones Industrial Average closed at 12,958.44, which was up 215.04 that day. What was the return (in percent) of the stock market that day? A. - 0.017 percentB. + 0.017 percentC. - 1.69 percentD. + 1.69 percent

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Answers (1)

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Maeve Galvan · Answer 1

D. + 1.69 %

Explanation:

To determine which is the correct answer to the question, we have to first evaluate whether the DOW was up or down for the day. The question provides the info that it was up 215.04 on that day. So automatically, the answer options A and C are eliminated since they represent negative changes.

To determine the percentage increase, we have to find out the prior day closing of the DOW, this is found out by subtracting the days' gain from the total level.

12,958.44 - 215.04 = 12,743.40

the gain for the day of 215.04 on the base figure represents the % gain.

215.04 / 12743.40 = 1.69 %