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A person invests money in a savings account that pays 2.5% simple interest. After one...

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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 did this person initially invest in the account (rounded to the nearest dollar)? Use the formula P=1/rtwhere P is the principle, /is the interest earned, r is the interest rate and t is the time, to find the initial investment.$1,230$125$1,170$970

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