Question

If $1,000 is invested at 7% interest, the total value of the investment at the end of one year will be $ [blank]
. (Enter your answer as a whole number.)

Answer 1

To calculate the total value of the investment at the end of one year with a principal of $1,000 and an interest rate of 7%, we can use the formula for simple interest:

\[
\text{Total Value} = \text{Principal} + \text{Interest}
\]

Where:
- Principal = $1,000
- Interest = Principal \(\times\) Rate

First, we calculate the interest:

\[
\text{Interest} = 1,000 \times 0.07 = 70
\]

Now, we can find the total value:

\[
\text{Total Value} = 1,000 + 70 = 1,070
\]

Thus, the total value of the investment at the end of one year will be \(\$1,070\).

\[
\boxed{1070}
\]