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