1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 2: Substitute data for calculation.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:
\begin{align*}\begin{align*}
\end{align*}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?Step 1: Review the formula of compound interest final value.
Strategy guide 12-13
Strategy guide
Strategy guide 12-13
Strategy guide
12-13