\end{align*}Step 2: Substitute data for calculation.1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Step 2: Substitute data for calculation.Step 1: Review the formula of compound interest final value.\end{align*}
F&=(1 + 0.01)^{240}\\This means that after 240 trading days, the overall increase multiple is about 115.8887 times, which is converted into the form of increase percentage, and the increase is (115.8887-1)×100\% = 11488.87\%.
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14
Strategy guide
Strategy guide 12-14