Step 1: Review the formula of compound interest final value.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:
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:If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?\begin{align*}
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.
Strategy guide 12-13
Strategy guide
12-13
Strategy guide 12-13