ANSWER
[tex]\begin{gathered} Interest=\text{ \$2240} \\ Value=\text{ \$}5040 \end{gathered}[/tex]EXPLANATION
To find the simple interest, we have to apply the formula for Simple Interest:
[tex]I=\frac{P\cdot R\cdot T}{100}[/tex]where P = principal = $2,800
R = rate = 8%
T = time (in years) = 10 years
Therefore, the interest is:
[tex]\begin{gathered} I=\frac{2800\cdot8\cdot10}{100} \\ I=\text{ \$2240} \end{gathered}[/tex]To find the total value, add the interest to the principal:
[tex]\begin{gathered} TV=2800+2240 \\ TV=\text{ \$5040} \end{gathered}[/tex]That is the total value.
