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2024-12-14 00:02:49

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?

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