&=1.01^{240}&=1.01^{240}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?
Step 1: Review the formula of compound interest final value.Substituting r = 0.01 and n = 240 into the above formula, we can get:Substituting r = 0.01 and n = 240 into the above formula, we can get:
&=1.01^{240}\begin{align*}
Strategy guide
12-14
Strategy guide 12-14
Strategy guide
Strategy guide 12-14
Strategy guide
Strategy guide
12-14