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1.01 {240} \ approximate 10.8926 is calculated by a calculator.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\%.Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.

\begin{align*}&=1.01^{240}\end{align*}

&=1.01^{240}Substituting r = 0.01 and n = 240 into the above formula, we can get:Step 2: Substitute data for calculation.