Exploring Compound Interest & Growth in Real Life

A bank offers a savings account with an annual interest rate of 5%. If you deposit $1,000, how much money will you have in the account after 3 years, assuming the interest is compounded annually?

• 1050.75

• 1157.63

• 1200.00

• 1100.50

A population of bacteria doubles every 4 hours. If you start with 500 bacteria, how many will there be after 12 hours?

• 1000

• 4000

• 8000

• 2000

You invest $2,000 in a fund that earns 6% interest compounded annually. How much will you have after 5 years?

• $3,000.00

• $2,200.00

• $2,676.45

• $2,500.00

A car's value decreases by 15% each year. If the car was originally worth $20,000, what will its value be after 2 years?

• $16,000

• $14,450

• $18,000

• $12,000

A certain species of fish in a lake grows at a rate of 10% per year. If there are currently 1,000 fish, how many will there be after 3 years?

• 1200

• 1331

• 1000

• 1500

You take out a loan of $5,000 with an interest rate of 8% compounded annually. How much will you owe after 4 years?

• 7500.00

• 6000.00

• 5000.00

• 6802.45

A tree grows at a rate of 5% per year. If the tree is currently 10 feet tall, how tall will it be after 6 years?

• 12.00 feet

• 15.00 feet

• 10.50 feet

• 13.40 feet

A city’s population is currently 50,000 and is expected to grow at a rate of 3% per year. What will the population be in 5 years?

• 60000

• 57964

• 55000

• 50000

You invest $1,500 in a savings account that offers 4% interest compounded quarterly. How much will you have after 2 years?

• $1,400.00

• $1,500.00

• $1,800.00

• $1,624.28

A certain investment grows by 12% each year. If you invest $800, how much will it be worth after 3 years?

• 900.00

• 1300.00

• 1000.00

• 1123.94