1.01 {240} \ approximate 10.8926 is calculated by a calculator.\end{align*}Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.
Step 1: Review the formula of compound interest final value.Substituting r = 0.01 and n = 240 into the above formula, we can get:&=1.01^{240}
Step 1: Review the formula of compound interest final value.We can use the formula for calculating the final value of compound interest to calculate the final increase under this continuous growth situation. The following are the specific steps:We can use the formula for calculating the final value of compound interest to calculate the final increase under this continuous growth situation. The following are the specific steps:
Strategy guide
12-13
Strategy guide 12-13
Strategy guide 12-13
Strategy guide 12-13