F&=(1 + 0.01)^{240}\\This means that after 240 trading days, the overall increase multiple is about 115.8887 times, which is converted into the form of increase percentage, and the increase is (115.8887-1)×100\% = 11488.87\%.1.01 {240} \ approximate 10.8926 is calculated by a calculator.
This means that after 240 trading days, the overall increase multiple is about 10.8926 times, and the increase is (10.8926-1) \times 100\% = 989.26\%.Substituting r = 0.01 and n = 240 into the above formula, we can get:&=1.01^{240}
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.\begin{align*}
Strategy guide
12-14
Strategy guide 12-14
Strategy guide
Strategy guide
12-14
Strategy guide
12-14