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&=1.01^{240}F&=(1 + 0.01)^{240}\\&=1.01^{240}

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

We can use the formula for calculating the final value of compound interest to calculate the final increase under this continuous growth situation. The following are the specific steps:F&=(1 + 0.01)^{240}\\