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

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

Step 1: Review the formula of compound interest final value.&=1.01^{240}Step 2: Substitute data for calculation.