Please use the elementary formulas that are introduced in lowe level econ courses. Please do not use excel or charts. for instance, formulas for F/A, P/A, F/P, etc. Thank you

In order to have money available for replacing their family vehicle, a couple planned to have $220,000 available in 10 years by investing in a global mutual fund. If they plan to increase their savings by 10% each year, how much must they invest in year 1 if they expect to earn 10% per year on their investments