\end{align*}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\%.F&=(1 + 0.01)^{240}\\
Step 1: Review the formula of compound interest final value.Step 2: Substitute data for calculation.\end{align*}
&=1.01^{240}&=1.01^{240}\end{align*}
Strategy guide
12-13
Strategy guide
12-13