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:1.01 {240} \ approximate 10.8926 is calculated by a calculator.F&=(1 + 0.01)^{240}\\
\begin{align*}Step 2: Substitute data for calculation.
\begin{align*}Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide 12-14
Strategy guide 12-14