\begin{align*}&=1.01^{240}F&=(1 + 0.01)^{240}\\
&=1.01^{240}The following is to calculate the increase of 240 trading days according to the daily increase of 2%, and calculate it through the calculator, 1.02 {240} \ approximate 115.8887.Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.
1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 1: Review the formula of compound interest final value.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?
Strategy guide 12-14
Strategy guide