what is the interest earned after 1 year in a savings account with an initial investment of $520 and a 8.2%…

Explanation:

Step1: Recall simple - interest formula

The simple - interest formula is $I = Prt$, where $I$ is the interest, $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years.

Step2: Convert the interest rate to decimal

The given interest rate is $8.2%$. To convert it to decimal, we divide by 100: $r=\frac{8.2}{100}=0.082$.

Step3: Identify the values of $P$ and $t$

The principal amount $P = 520$ and the time $t = 1$ year.

Step4: Calculate the interest

Substitute $P = 520$, $r=0.082$, and $t = 1$ into the formula $I = Prt$. So, $I=520\times0.082\times1$. $I = 42.64$.

Answer:

$42.64$