If I invest 8000 dollars in a stock that increases in value 3% every day for 250 days, how much will it be worth?
After 1 day: 8000 x 1.03 = 8240
After 2 days: 8240 x 1.03 = (8000 x 1.03) x 1.03 or 8000 x 1.032 = 8487.20
After 3 days: 8486.20 x 1.03 = (8000 x 1.032) x 1.03 or 8000 x 1.033 = 8741.816
After 250 days: 8000 x 1.03250 = 12,950,000 (approximately)
