cryptocurrency simply explained- Top Reviews

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\%.Step 2: Substitute data for calculation.\end{align*}

Substituting r = 0.01 and n = 240 into the above formula, we can get: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:\end{align*}

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.Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.