What will it be multiplied by after 1 day, if it increases by r% per day?If something increase by the same percentage each day and is at 6.09 percent higher after 2 days. What is the daily percentage increase. I know it must be about 3% but don’t know how to show this mathematically.
Is it 1+r.
If I did this twice it would give (1+r)^2?
So, as you can now see, it's not "about" 3%. ?I think I got it.
(1+r/100)^2=1.0609 which I can solve by taking square roots?
YVW. ?Thanks everyone.