Question

An artificial satellite is orbiting the earth at altitude 500km . A bomb is released from the satellite . this bomb will

Answer 1

..... stay in orbit beside the satellite. When you let it go it is moving at the same speed as the bomber and therefore stays with it.

Answer 2

If it is in orbit the gravitational force on it
G M m/r^2
is exactly equal to the mass times the centripetal acceleration
m v^2/r
so there is no net remaining force to change r

Answer 3

It will orbit the earth along with the satellite.