&=1.01^{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:
Substituting r = 0.01 and n = 240 into the above formula, we can get:F&=(1 + 0.01)^{240}\\
\end{align*}&=1.01^{240}
Strategy guide 12-13
Strategy guide
12-13
Strategy guide
12-13
Strategy guide
12-13
Strategy guide
12-13