\end{align*}Step 1: Review the formula of compound interest final value.Substituting r = 0.01 and n = 240 into the above formula, we can get:
Step 1: Review the formula of compound interest final value.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.
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 115.8887.1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 1: Review the formula of compound interest final value.
Strategy guide 12-13
Strategy guide 12-13