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Substituting r = 0.01 and n = 240 into the above formula, we can get:\begin{align*}&=1.01^{240}
&=1.01^{240}\begin{align*}
Substituting r = 0.01 and n = 240 into the above formula, we can get: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.
Strategy guide 12-14
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
Strategy guide 12-14
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Strategy guide
12-14
Strategy guide 12-14
