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Step 2: Substitute data for calculation.&=1.01^{240}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?

1.01 {240} \ approximate 10.8926 is calculated by a calculator.\begin{align*}&=1.01^{240}

In the context of compound interest growth, if the initial value is set to P, the growth rate of each period is R, and the formula for calculating the final value F after N periods is F = P (1+R) N. In this topic, we mainly pay attention to the increase multiple, so we can regard the initial value as 1, where the growth rate of each trading day is r = 1\% = 0.01, and the number of periods passed is n = 240 trading days.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\%.1.01 {240} \ approximate 10.8926 is calculated by a calculator.