10. A new bank customer with $3,000 wants to open a money market account. The bank is offering a simple interest rate of 1.1%. a. How much interest will the customer earn in 20 years?

b. What will be the account balance after 20 years? --​

Given:

Principal amount = $3000

Rate of simple interest = 1.1%

To find:

The amount that the customer will earn in one year.

Solution:

Formula for simple interest is

where, P is principal, r is rate of interest and t is time in years.

Substituting P=3000, r=0.011 and t=1, we get

Therefore, the customer will earn $33 in one year.

Step-by-step explanation:

step-by-step explanation:

we can use this expression to calculate the energy gain as a particle moves with a field or the energy loss as it moves against it. (note that it is also used to define the electron-volt, a unit of energy equal to that gained by an electron as it falls through a pd of 1 v, i.e. w = 1 ev = 1.6 10-19 c 1 v = 1.6 10-19j).in fact this expression is really nothing more than the statement that potential is the potential energy per unit charge. in this case, v= w/qis simply stating that the change in potential energy(or work done) per unit charge is equal to the change in potential (or potential difference), v.student questions: uniform electric fields2electron beamcathode+5 kvanode0 v