\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:F&=(1 + 0.01)^{240}\\
F&=(1 + 0.01)^{240}\\Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.
Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.Step 2: Substitute data for calculation.1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Strategy guide 12-14
Strategy guide
12-14
Strategy guide
12-14