If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?\end{align*}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?
&=1.01^{240}1.01 {240} \ approximate 10.8926 is calculated by a calculator.
Step 1: Review the formula of compound interest final value.Step 2: Substitute data for calculation.F&=(1 + 0.01)^{240}\\
Strategy guide 12-13
Strategy guide