Substituting r = 0.01 and n = 240 into the above formula, we can get:\begin{align*}Step 2: Substitute data for calculation.
Step 1: Review the formula of compound interest final value.Substituting r = 0.01 and n = 240 into the above formula, we can get:
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.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:
Strategy guide
Strategy guide
12-13
Strategy guide
Strategy guide 12-13