cryptocurrency in Knowledge

1.01 {240} \ approximate 10.8926 is calculated by a calculator.&=1.01^{240}Substituting r = 0.01 and n = 240 into the above formula, we can get:

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.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.Substituting r = 0.01 and n = 240 into the above formula, we can get: