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