\end{align*}\begin{align*}Step 2: Substitute data for calculation.
\end{align*}Step 1: Review the formula of compound interest final value.1.01 {240} \ approximate 10.8926 is calculated by a calculator.
This means that after 240 trading days, the overall increase multiple is about 115.8887 times, which is converted into the form of increase percentage, and the increase is (115.8887-1)×100\% = 11488.87\%.1.01 {240} \ approximate 10.8926 is calculated by a calculator.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?
Strategy guide
12-13
Strategy guide 12-13
Strategy guide
12-13