A new bank customers 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?

$660

Step-by-step explanation:

Answer : The interest customer earn in 20 years will be, $ 660

Step-by-step explanation :

Given:

Principle = $3000

Interest rate = 1.1 %

Time = 20 years

Now we have to determine the simple interest.

Formula used :

where,

P = principle  

R = interest rate

T = time

S.I = simple interest

Now put all the given values in the above formula, we get:

Thus, the interest customer earn in 20 years will be, $ 660

i think it's either c or d

step-by-step explanation: the entire question is extremely odd. 04 obviously refers to the interest rate. honestly i will say the answer is c. because the (2 x 12) part would mean it's compounded semiannually. i'll say choose c.

step-by-step explanation:

to find if any function is an inverse of the other, put the first equation in as x in the next one. then simplify and solve. if at the end you get the statement y = x, then it is an inverse. if you get anything else, it is not.