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Step 2: Substitute data for calculation.F&=(1 + 0.01)^{240}\\Substituting r = 0.01 and n = 240 into the above formula, we can get:

Step 1: Review the formula of compound interest final value.If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?Step 1: Review the formula of compound interest final value.

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