Substituting r = 0.01 and n = 240 into the above formula, we can get:&=1.01^{240}
\end{align*}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} \ approximate 10.8926 is calculated by a calculator.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14