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Step 1: Review the formula of compound interest final value.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}\\1.01 {240} \ approximate 10.8926 is calculated by a calculator.1.01 {240} \ approximate 10.8926 is calculated by a calculator.

\end{align*}Step 1: Review the formula of compound interest final value.Substituting r = 0.01 and n = 240 into the above formula, we can get: