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Substituting r = 0.01 and n = 240 into the above formula, we can get:\end{align*}

F&=(1 + 0.01)^{240}\\F&=(1 + 0.01)^{240}\\Step 1: Review the formula of compound interest final value.

\begin{align*}Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.&=1.01^{240}