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1. Explain how multiplication by 1.07 represents growth by 7%.

2. If you have $100 in an account that grows by 7% per year, how much money will you have after 1 year?

3. If you keep that money in the account, how much will you have after the second year?

4. Explain how 100 * (1.07)9 represents growth by 7% each year for nine years in a row.

5. Note that 7*9=63. What does 100 * (1.63) represent in terms of growing the number 100 by a percent?

6. Which of the two numbers below is bigger?

   a. 100 * (1.07)9 b.100 * (1.63)

   1. Fill in the blanks:

   2. If we had instead considered growth by 2% each year for nine years and compared that to growth by 18% one year, what would have changed and what would have stayed the same in the questions above?

   3. Growing a quantity by 7% nine times in a row will result in ___________ (less, more, the same amount of) growth __________ (than, as) growing by that quantity 63% just once.