Answer:
$1,111
Explanation:
Let x = principal amount
x multiplied by 1.045 will equal the final amount
Since 50 was earned, x + 50 will also equal the final amount
1.045x = x + 50
Let's move the x terms to left side by subtracting both sides by x
1.045x = x + 50
- x - x
0.045x = 50
Divide both sides by 0.045 to isolate the x variable
0.045x/50 = 50/50
x = 1,111.111111111