Substituting r = 0.01 and n = 240 into the above formula, we can get:Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.&=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:
Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.\begin{align*}Step 2: Substitute data for calculation.
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14
Strategy guide
12-14