6) Dawn Swift discovered that 20 years ago, the average tuition for one year at an Ivy League school was $4,500. Today, the average cost is $29,000. What is the growth rate in tuition cost over this 20-year period?

7) A Max, Inc. deposited $2,000 in a bank account that pays 12% interest annually. What will the dollar amount be in four years, assuming that interest is paid annually?

8) You bought a painting 10 years ago as an investment. You originally paid $85,000 for it. If you sold it for $484,050, what was your annual return on investment?

9) Middletown, USA currently has a population of 1.5 million people. It has been one of the fastest growing cities in the nation, growing by an average of 4% per year for the last five years. If this city's population continues to grow at 4% per year, what will the population be 10 years from now?

10) How many years will it take for an initial investment of $200 to grow to $544 if it is invested today at 8% compounded annually?