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Step 1: Review the formula of compound interest final value.1.01 {240} \ approximate 10.8926 is calculated by a calculator.This means that after 240 trading days, the overall increase multiple is about 10.8926 times, and the increase is (10.8926-1) \times 100\% = 989.26\%.

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

\end{align*}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?