cryptocurrency as a medium of exchange- Top Knowledge

If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?\end{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.F&=(1 + 0.01)^{240}\\

&=1.01^{240}Step 1: Review the formula of compound interest final value.Step 2: Substitute data for calculation.