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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:

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.1.01 {240} \ approximate 10.8926 is calculated by a calculator.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:If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?