F&=(1 + 0.01)^{240}\\\end{align*}Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.
\end{align*}1.01 {240} \ approximate 10.8926 is calculated by a calculator.
&=1.01^{240}Step 2: Substitute data for calculation.Step 1: Review the formula of compound interest final value.
Strategy guide
12-14
Strategy guide
12-14
Strategy guide
12-14