central bank of nigeria digital currency- Top Knowledge

1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 1: Review the formula of compound interest final value.1.01 {240} \ approximate 10.8926 is calculated by a calculator.

Step 2: Substitute data for calculation.1.01 {240} \ approximate 10.8926 is calculated by a calculator.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?

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