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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:

&=1.01^{240}Step 2: Substitute data for calculation.Step 2: Substitute data for calculation.

Step 2: Substitute data for calculation.\begin{align*}\begin{align*}