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2024-12-14 01:31:02

&=1.01^{240}&=1.01^{240}Step 2: Substitute data for calculation.


Substituting r = 0.01 and n = 240 into the above formula, we can get: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}


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