F&=(1 + 0.01)^{240}\\\begin{align*}Step 2: Substitute data for calculation.
1.01 {240} \ approximate 10.8926 is calculated by a calculator.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.Step 1: Review the formula of compound interest final value.Substituting r = 0.01 and n = 240 into the above formula, we can get:
Strategy guide
Strategy guide
12-14
Strategy guide 12-14