This means that after 240 trading days, the overall increase multiple is about 115.8887 times, which is converted into the form of increase percentage, and the increase is (115.8887-1)×100\% = 11488.87\%.1.01 {240} \ approximate 10.8926 is calculated by a calculator.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:
Substituting r = 0.01 and n = 240 into the above formula, we can get:\begin{align*}Step 1: Review the formula of compound interest final value.
F&=(1 + 0.01)^{240}\\Step 2: Substitute data for calculation.&=1.01^{240}
Strategy guide 12-13
Strategy guide 12-13
Strategy guide
12-13
Strategy guide
12-13