True/False

A laboratory researcher starts an experiment with an initial population of 50 bacteria (A0=50A_0 = 50) that grows continuously at a rate of 15% per hour (r=0.15r = 0.15). True or False: After 8 hours (t=8t = 8), the growth formula simplifies to A=50e1.2A = 50 e^{1.2}, resulting in a population of approximately 166 bacteria.

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