crypto currency on the rise- Top Featured

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

If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?\end{align*}Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.

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:Step 2: Substitute data for calculation.