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