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A person invests money in a savings account that pays 2.5% simple interest. After one year, the person earns $24.25 in interest. How much
A person invests money in a savings account that pays 2.5% simple interest. After one year, the person earns $24.25 in interest. How much did this person initially invest in the account (rounded to the nearest dollar)? Use the formula P=1 where P is the principle, / is the interest earned, r is the interest rate and t is the time, to find the initial investment. O $1,230 $125 O $1,170 $970 nt
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