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.Step 1: Review the formula of compound interest final value.
Substituting r = 0.01 and n = 240 into the above formula, we can get:\begin{align*}
Substituting r = 0.01 and n = 240 into the above formula, we can get:Step 2: Substitute data for calculation.&=1.01^{240}
Strategy guide
12-14
Strategy guide 12-14
Strategy guide 12-14