&=1.01^{240}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?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:
Substituting r = 0.01 and n = 240 into the above formula, we can get:\end{align*}Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.
Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.F&=(1 + 0.01)^{240}\\Step 1: Review the formula of compound interest final value.
Strategy guide 12-13
Strategy guide 12-13
Strategy guide 12-13