\end{align*}The following is to calculate the increase of 240 trading days according to the daily increase of 2%, and calculate it through the calculator, 1.02 {240} \ approximate 115.8887.F&=(1 + 0.01)^{240}\\
F&=(1 + 0.01)^{240}\\&=1.01^{240}Step 1: Review the formula of compound interest final value.
Step 2: Substitute data for calculation.F&=(1 + 0.01)^{240}\\
Strategy guide
12-13
Strategy guide
12-13
Strategy guide 12-13