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2024-12-14 11:58:33

\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}

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