Calculate the simple interest you would receive in one year on a savings account that earns 5% annual interest. your beginning balance is $255.19.

The simple interest formula:

I = P * r * t,

where:

I - interest,

P - investment,

r - interest rate,

t - time (in years)

P = $255.19, r = 5% = 0.05, t = 1

I = $255.19 * 0.05 * 1 = $12.7595 ≈ $12.76

Answer: The simple interest you would receive in 1 year is $12.76.