\begin{align*}Step 1: Review the formula of compound interest final value.&=1.01^{240}
Step 2: Substitute data for calculation.\end{align*}1.01 {240} \ approximate 10.8926 is calculated by a calculator.
\begin{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:
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14
Strategy guide
12-14
Strategy guide