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Step 2: Substitute data for calculation.&=1.01^{240}\end{align*}

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