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.Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.
This means that after 240 trading days, the overall increase multiple is about 10.8926 times, and the increase is (10.8926-1) \times 100\% = 989.26\%.\begin{align*}Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.
If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?\begin{align*}1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide 12-13
Strategy guide
12-13