understanding the different types of cryptocurrency- Top Overview

Step 1: Review the formula of compound interest final value.&=1.01^{240}\begin{align*}

F&=(1 + 0.01)^{240}\\1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 1: Review the formula of compound interest final value.

We can use the formula for calculating the final value of compound interest to calculate the final increase under this continuous growth situation. The following are the specific steps:Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.Step 2: Substitute data for calculation.