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