new digital currency china Knowledge

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

&=1.01^{240}1.01 {240} \ approximate 10.8926 is calculated by a calculator.\end{align*}

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