&=1.01^{240}Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.Substituting r = 0.01 and n = 240 into the above formula, we can get:
\begin{align*}\begin{align*}F&=(1 + 0.01)^{240}\\
Step 1: Review the formula of compound interest final value.
Strategy guide 12-14
Strategy guide
12-14
Strategy guide
Strategy guide
12-14