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The S&P / TSX Composite Index and the S&P 500 Index are both value weighted indexes – this means that companies with a large market capitalization dominate the index over time. Still, many investors will use an index to gauge overall market performance as the value of a stock index is calculated daily. If the closing value of the S&P / TSX Composite Index on December 31, 2019 was 17,063.43 and the closing value of the S&P / TSX Composite Index on December 31, 2020 was 17,433.63. What was the percentage change for the year?
a. a gain of 2.17%.
b. a loss of 2.17%.
c. a gain of 2.12% but depends on which companies are included.
d. a loss of 2.12% but depends on which companies are included.