Mastering Compound Interest & Exponential Growth Challenges

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

• 1157.63

• 1100.50

• 1050.25

• 1200.00

A population of rabbits doubles every year. If there are initially 50 rabbits, how many will there be after 4 years?

• 1000

• 200

• 400

• 800

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

• 3000.00

• 2800.50

• 2500.00

• 2693.71

A tree grows at a rate of 10% per year. If the tree is currently 3 meters tall, what will its height be after 2 years?

• 3.30 meters

• 4.00 meters

• 3.63 meters

• 3.00 meters

A car's value depreciates by 15% each year. If the car is worth $20,000 now, what will its value be after 3 years?

• $10,000

• $8,500

• $15,000

• $12,282.50

You start with $500 in a savings account that earns 4% interest compounded monthly. How much will you have after 2 years?

• 500.00

• 600.00

• 541.64

• 550.50

A bacteria culture grows exponentially. If it starts with 100 bacteria and doubles every hour, how many bacteria will there be after 5 hours?

• 4000

• 1600

• 2400

• 3200

You invest $1,500 in a retirement account that earns 7% interest compounded annually. How much will you have in the account after 10 years?

• $3,500.50

• $2,000.00

• $1,800.25

• $2,950.73

A certain investment grows by 8% each year. If you invest $1,000, how much will it be worth after 6 years?

• 1200.00

• 2000.00

• 1500.50

• 1586.87

A loan of $5,000 has an interest rate of 10% compounded annually. How much will you owe after 4 years?

• 8000.00

• 7320.50

• 6000.00

• 5000.00