what is cryptocurrency based on, Featured snippets

Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.Step 1: Review the formula of compound interest final value.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.

&=1.01^{240}\begin{align*}

1.01 {240} \ approximate 10.8926 is calculated by a calculator.\begin{align*}