federal reserve central bank digital currency Top Knowledge

&=1.01^{240}1.01 {240} \ approximate 10.8926 is calculated by a calculator.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.

Substituting r = 0.01 and n = 240 into the above formula, we can get:Step 1: Review the formula of compound interest final value.Step 1: Review the formula of compound interest final value.

Step 1: Review the formula of compound interest final value.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?