Step 1: Review the formula of compound interest final value.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?The following is to calculate the increase of 240 trading days according to the daily increase of 2%, and calculate it through the calculator, 1.02 {240} \ approximate 115.8887.
Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.Substituting r = 0.01 and n = 240 into the above formula, we can get:\end{align*}
Step 1: Review the formula of compound interest final value.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?&=1.01^{240}
Strategy guide
Strategy guide 12-13
Strategy guide 12-13