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:Step 2: Substitute data for calculation.1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.
&=1.01^{240}\begin{align*}Substituting r = 0.01 and n = 240 into the above formula, we can get:
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14
Strategy guide
12-14
Strategy guide 12-14
Strategy guide