Test: GMAT Math

1.

Grandpa Jack wants to help his grandson, Little Jack, with college expenses. Little Jack is currently 3 years old. If Grandpa Jack invests $5,000 in a college savings account earning 5% compounded yearly, how much money will he have in 15 years when Little Jack is 18? 

Between $10,000-$10,500

 Between $9,500-$10,000 

 Between $11,000-$11,500 

 Between $10,500-$11,000 

 Between $9,000-$9,500 

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