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A new bank customer with ​$3 comma 500 wants to open a money market account. The bank is offering a simple interest rate of 1.1​%.
a. How much interest will the customer earn in 30 ​years?
b. What will the account balance be after 30 ​years?
Question content area bottom
Part 1
a. The customer will earn ​$

enter your response here in interest.

Respuesta :

Answer:

660

Step-by-step explanation:

We know that:

{

�

=

3000

�

=

1.1

%

�

=

20

⎩

⎨

⎧

​

 

P=3000

R=1.1%

T=20

​Formulate and substitute:I = 3000 r t

Reorder and group certain terms:

20

×

(

3000

×

0.011

)

20×(3000×0.011)

Calculate:

20

×

33

20×33

Calculate the product or quotient:660

Answer: 660

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