Step 2: Substitute data for calculation.Step 1: Review the formula of compound interest final value.Step 1: Review the formula of compound interest final value.
Step 2: Substitute data for calculation.This means that after 240 trading days, the overall increase multiple is about 115.8887 times, which is converted into the form of increase percentage, and the increase is (115.8887-1)×100\% = 11488.87\%.F&=(1 + 0.01)^{240}\\
F&=(1 + 0.01)^{240}\\Step 2: Substitute data for calculation.&=1.01^{240}
Strategy guide 12-13
Strategy guide
12-13
Strategy guide 12-13