F&=(1 + 0.01)^{240}\\Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.Step 1: Review the formula of compound interest final value.
\end{align*}Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.
&=1.01^{240}Substituting r = 0.01 and n = 240 into the above formula, we can get:F&=(1 + 0.01)^{240}\\
Strategy guide
12-14
Strategy guide 12-14