Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.\end{align*}
Substituting r = 0.01 and n = 240 into the above formula, we can get:Substituting r = 0.01 and n = 240 into the above formula, we can get:F&=(1 + 0.01)^{240}\\
F&=(1 + 0.01)^{240}\\1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 1: Review the formula of compound interest final value.
Strategy guide
12-14
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14