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: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.
F&=(1 + 0.01)^{240}\\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.Step 1: Review the formula of compound interest final value.
\end{align*}1.01 {240} \ approximate 10.8926 is calculated by a calculator.&=1.01^{240}
Strategy guide 12-14
Strategy guide 12-14
Strategy guide 12-14
Strategy guide 12-14