SOLUTION: Money is invested in a savings account at 5% simple interest. After 1 year, there is $262.50 in the account. How much was originally invested?

SOLUTION: Money is invested in a savings account at 5% simple interest. After 1 year, there is $262.50 in the account. How much was originally invested?

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Question 729477: Money is invested in a savings account at 5% simple interest. After 1 year, there is $262.50 in the account. How much was originally invested?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
X(1+.05)^1=262.50
1.05X=262.50
X=262.50/1.05
X=$250.00 WAS THE INITIAL INVESTMENT.

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