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.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:Step 1: Review the formula of compound interest final value.
\begin{align*}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?\begin{align*}
F&=(1 + 0.01)^{240}\\Substituting r = 0.01 and n = 240 into the above formula, we can get:1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide 12-13
Strategy guide 12-13