A person invests money in a savings account that pays 4.5% simple interest. After two years, the person earns $118.75 in interest. How much did this person initially invest in the account (rounded to the nearest dollar)? Use the formula P-- where Pis the principle, /is the interest earned, ris the interest rate and t is the time, to find the initial investment.
$1,319
$1,170
$1,230
$1,245 ​