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If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?F&=(1 + 0.01)^{240}\\

Step 1: Review the formula of compound interest final value.Substituting r = 0.01 and n = 240 into the above formula, we can get:F&=(1 + 0.01)^{240}\\

Step 2: Substitute data for calculation.1.01 {240} \ approximate 10.8926 is calculated by a calculator.Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.