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