F&=(1 + 0.01)^{240}\\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:If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?
Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.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.Step 1: Review the formula of compound interest final value.
Strategy guide
12-13
Strategy guide
12-13
Strategy guide 12-13
Strategy guide
12-13