&=1.01^{240}Step 1: Review the formula of compound interest final value.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?
\end{align*}Substituting r = 0.01 and n = 240 into the above formula, we can get:
Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.F&=(1 + 0.01)^{240}\\
Strategy guide 12-13
Strategy guide 12-13