A bank manager wants to encourage new customers to open accounts with principals of at least $. He decides to make a poster advertising a simple interest rate of %. What must the principal be if the bank manager also wants to advertise that one can earn $ the first month? Can the poster correctly say, "Open an account of $ and earn at least $ interest in 1 month!"? The principal needs to be $
nothing to earn $ in interest the first month.
(Round to the nearest dollar as needed.)