\begin{align*}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\%.Substituting r = 0.01 and n = 240 into the above formula, we can get:
Step 1: Review the formula of compound interest final value.Step 1: Review the formula of compound interest final value.\end{align*}
&=1.01^{240}1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide
Strategy guide 12-13
Strategy guide 12-13