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\end{align*}&=1.01^{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:If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?&=1.01^{240}

If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?Substituting r = 0.01 and n = 240 into the above formula, we can get:Step 1: Review the formula of compound interest final value.