Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.F&=(1 + 0.01)^{240}\\Step 2: Substitute data for calculation.
Step 1: Review the formula of compound interest final value.&=1.01^{240}\begin{align*}
1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 1: Review the formula of compound interest final value.&=1.01^{240}
Strategy guide
12-13
Strategy guide 12-13
Strategy guide