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Step 1: Review the formula of compound interest final value.\end{align*}F&=(1 + 0.01)^{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}\\

\end{align*}\end{align*}Substituting r = 0.01 and n = 240 into the above formula, we can get: