digital currency electronic payment- Top Knowledge

Step 2: Substitute data for calculation.&=1.01^{240}Substituting r = 0.01 and n = 240 into the above formula, we can get:

\begin{align*}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.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.Step 1: Review the formula of compound interest final value.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\%.