Given that Ivy deposited some money into a savings account that earns 1% annual simple interest, and at the end of 5 years, she earned $ 32.50 in interest, to determine how much money did she put into the account initially, the following calculation must be performed:
32.50 / 5 = 6.5
1 = 6.5
100 = X
100 x 6.5 = X
650 = X
Therefore, Ivy initially put $ 650 in the account.
