virtual money meaning- Top Knowledge

If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?&=1.01^{240}Step 1: Review the formula of compound interest final value.

Step 1: Review the formula of compound interest final value.Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.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\%.

1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 1: Review the formula of compound interest final value.Step 1: Review the formula of compound interest final value.