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1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 2: Substitute data for calculation.&=1.01^{240}

Substituting r = 0.01 and n = 240 into the above formula, we can get:Step 2: Substitute data for calculation.

\end{align*}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?We can use the formula for calculating the final value of compound interest to calculate the final increase under this continuous growth situation. The following are the specific steps: