F&=(1 + 0.01)^{240}\\Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.Step 2: Substitute data for calculation.
Step 1: Review the formula of compound interest final value.1.01 {240} \ approximate 10.8926 is calculated by a calculator.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 \%.\end{align*}1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide
12-13
Strategy guide
12-13
Strategy guide
Strategy guide 12-13
Strategy guide 12-13