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1.01 {240} \ approximate 10.8926 is calculated by a calculator.Substituting r = 0.01 and n = 240 into the above formula, we can get:Step 1: Review the formula of compound interest final value.

&=1.01^{240}F&=(1 + 0.01)^{240}\\Substituting r = 0.01 and n = 240 into the above formula, we can get:

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