The total length of wire used to surround the square-shaped garden is 5 times the perimeter of the garden. If we divide the total length of wire by 5, we can find the perimeter of the garden.
Total length of wire used = 5 x 340 meters = 1700 meters
Perimeter of the garden = Total length of wire used / 5 = 1700 meters / 5 = 340 meters
Since the garden is square-shaped, all sides are equal in length. Therefore, each side of the garden is:
Perimeter / 4 = 340 meters / 4 = 85 meters
The area of the garden is the square of the length of one side:
Area = (side length)^2 = (85 meters)^2 = 7225 square meters
Therefore, the area of the garden is 7225 square meters.