bitcoin unit of account Top People also ask

F&=(1 + 0.01)^{240}\\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:

\begin{align*}F&=(1 + 0.01)^{240}\\This means that after 240 trading days, the overall increase multiple is about 10.8926 times, and the increase is (10.8926-1) \times 100\% = 989.26\%.

1.01 {240} \ approximate 10.8926 is calculated by a calculator.This means that after 240 trading days, the overall increase multiple is about 10.8926 times, and the increase is (10.8926-1) \times 100\% = 989.26\%.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?