If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?Substituting r = 0.01 and n = 240 into the above formula, we can get:
Step 2: Substitute data for calculation.\begin{align*}Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.
Step 1: Review the formula of compound interest final value.Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.The following is to calculate the increase of 240 trading days according to the daily increase of 2%, and calculate it through the calculator, 1.02 {240} \ approximate 115.8887.
Strategy guide
Strategy guide
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