new currency launched- Top snippets

Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.Step 1: Review the formula of compound interest final value.&=1.01^{240}

Step 2: Substitute data for calculation.\end{align*}In the context of compound interest growth, if the initial value is set to P, the growth rate of each period is R, and the formula for calculating the final value F after N periods is F = P (1+R) N. In this topic, we mainly pay attention to the increase multiple, so we can regard the initial value as 1, where the growth rate of each trading day is r = 1\% = 0.01, and the number of periods passed is n = 240 trading days.

\begin{align*}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?F&=(1 + 0.01)^{240}\\