\begin{align*}Substituting r = 0.01 and n = 240 into the above formula, we can get:If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?
Step 2: Substitute data for calculation.Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.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.F&=(1 + 0.01)^{240}\\1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide
12-14
Strategy guide
12-14
Strategy guide
Strategy guide
12-14
Strategy guide
12-14