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&=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:

Step 2: Substitute data for calculation.Step 1: Review the formula of compound interest final value.Substituting r = 0.01 and n = 240 into the above formula, we can get:

Step 2: Substitute data for calculation.\begin{align*}If it rises by 1% or 2% every day, how much will it increase in 240 trading days a year?