Respuesta :
[tex]\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$220\\ r=rate\to 7\%\to \frac{7}{100}\dotfill &0.07\\ t=years\dotfill &10 \end{cases} \\\\\\ A=220[1+(0.07)(10)]\implies A=220(1.7)\implies A=374[/tex]
The value of investment at the end of 10 years will be $374.
What is simple interest?
Simple interest doesn't compound, thus an account holder only earns interest on the principal and a borrower never has to pay interest on previously accumulated interest.
S.I (simple interest) = (P * R * T) / 100
P = principal amount
R = rate of interest
T = time period
Initial investment by the person = $220
Rate of Investment = 7%
Investment for no. of years = 10
S.I = (P * R * T) / 100
S.I = (220 * 7 * 10) / 100
S.I = $154
Total amount = Initial investment + Simple interest
Total amount = $220 + $154
Total amount = $374
Hence, the value of the investment at the end of 10 years is $374.
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