Step 2: Substitute data for calculation.Step 2: Substitute data for calculation.&=1.01^{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:Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.&=1.01^{240}
Step 1: Review the formula of compound interest final value.1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide 12-13
Strategy guide
Strategy guide
12-13
Strategy guide
12-13
Strategy guide
12-13
Strategy guide 12-13