\end{align*}\begin{align*}Substituting r = 0.01 and n = 240 into the above formula, we can get:
\end{align*}Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.\end{align*}
We can use the formula for calculating the final value of compound interest to calculate the final increase under this continuous growth situation. The following are the specific steps:\begin{align*}1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide
12-14
Strategy guide
12-14