Answer:
At the end of the year, Marc will have 1.10 times the amount invested
Step-by-step explanation:
Let
x -----> the amount that Marc wishes to invested
Remember that
[tex]100\%+10\%=110=110/100=1.10[/tex]
At the end of the year the amount of money will be the amount invested multiplied by 1.10
so
1.10x
therefore
At the end of the year, Marc will have 1.10 times the amount invested
Alternative Method
we know that
The simple interest formula is equal to
[tex]A=P(1+rt)[/tex]
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
[tex]t=1\ year\\ P=\$x\\ A=?\\r=10\%=10/100=0.10[/tex]
substitute in the formula
[tex]A=x(1+0.10*1)[/tex]
[tex]A=x(1.10)[/tex]
[tex]A=1.10x[/tex]
