cryptocurrencies in world Top People also ask

Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.F&=(1 + 0.01)^{240}\\Step 2: Substitute data for calculation.

1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 2: Substitute data for calculation.In the context of compound interest growth, if the initial value is set to P, the growth rate of each period is R, and the formula for calculating the final value F after N periods is F = P (1+R) N. In this topic, we mainly pay attention to the increase multiple, so we can regard the initial value as 1, where the growth rate of each trading day is r = 1\% = 0.01, and the number of periods passed is n = 240 trading days.

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\%.\end{align*}Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.