\end{align*}\begin{align*}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:
F&=(1 + 0.01)^{240}\\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.\end{align*}
&=1.01^{240}Step 1: Review the formula of compound interest final value.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