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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: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:&=1.01^{240}

F&=(1 + 0.01)^{240}\\Step 2: Substitute data for calculation.

Step 2: Substitute data for calculation.Step 1: Review the formula of compound interest final value.Step 2: Substitute data for calculation.