Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.\begin{align*}Step 1: Review the formula of compound interest final value.
&=1.01^{240}Step 1: Review the formula of compound interest final value.Step 2: Substitute data for calculation.
Step 1: Review the formula of compound interest final value.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:
Strategy guide
12-14
Strategy guide 12-14
Strategy guide
12-14