Mastering Compound Interest & Exponential Growth: Grade 10 Quiz

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?

• 1050.25

• 1157.63

• 1100.50

• 1200.00

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

• 8000

• 1000

• 2000

• 4000

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

• 2800.25

• 3000.50

• 2693.71

• 2500.00

A car's value depreciates at a rate of 15% per year. If the car is worth $20,000 now, what will its value be in 4 years?

• $15,000.00

• $8,500.00

• $12,000.00

• $10,440.12

A certain investment grows exponentially. If it is worth $10,000 now and grows to $15,000 in 2 years, what is the annual growth rate?

• 30%

• 22.47%

• 15%

• 10%

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

• 6802.45

• 7500.00

• 6000.00

• 5000.00

A tree grows at a rate of 10% per year. If the tree is currently 3 meters tall, how tall will it be in 5 years?

• 6.50 meters

• 5.00 meters

• 4.83 meters

• 3.30 meters

A city has a population of 50,000 and is growing at a rate of 3% per year. What will the population be in 10 years?

• 67196

• 75000

• 80000

• 60000

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

• 3018.29

• 2500.00

• 3500.50

• 4000.75

A certain species of fish in a lake grows exponentially. If there are currently 200 fish and the population doubles every year, how many fish will there be in 5 years?

• 6400

• 12800

• 3200

• 800