fed digital currency app- Top Knowledge

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

Substituting r = 0.01 and n = 240 into the above formula, we can get:\end{align*}F&=(1 + 0.01)^{240}\\

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 2: Substitute data for calculation.Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.