Eric earns 6.5% simple interest annually on his savings account. he has a beginning balance of $459.32. how much interest does he receive?

The amount Eric received will be calculated using simple interest formula given by:

S. I=PRT/100

where:

P=principle

R=rate

T=time

thus the amount of interest Eric will receive will be:

(6.5*459.32*1) / 100

=$29.8558

Answer: $29.8558