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1.01 {240} \ approximate 10.8926 is calculated by a calculator.1.01 {240} \ approximate 10.8926 is calculated by a calculator.1.01 {240} \ approximate 10.8926 is calculated by a calculator.

Substituting r = 0.01 and n = 240 into the above formula, we can get:Step 1: Review the formula of compound interest final value.1.01 {240} \ approximate 10.8926 is calculated by a calculator.

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