F&=(1 + 0.01)^{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.
\begin{align*}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 1: Review the formula of compound interest final value.
\end{align*}1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide 12-14
Strategy guide
Strategy guide