As Galileo Galileo was said to have discovered by dropping objects off the Leaning Tower of Pisa, free-falling objects, like a returning bullet, will all travel similarly faster and faster, under the acceleration of gravity (about 9.8 m/s2). Because of the counter-force due to air resistance, objects will stop accelerating, reaching a terminal velocity dependent on their aerodynamic properties. A bullet should reach a terminal velocity of about 200 mph.
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At the end of 3 seconds, a falling object is falling at 65.8 mph faster than when it was released, ignoring air resistance.
The dry air speed of sound is about 1125 FPS, so anything over that is considered supersonic.
The mass is irrelevant. If the object is in free fall (that is, air resistance can be neglected), an object will fall 4.9 meters in one second.
There are a couple of different answers, depending on what you mean. In general, a handgun bullet can travel about a mile on average, if the gun is pointed up at an angle and fired into the air. Most handguns can easily be shot accurately at ranges of 50 yards or less, but many skilled handgun shooters can shoot accurately at 100 yards, and some can even shoot fairly accurately up to 200 yards.
Many situation can be described by quadratic equations. For example, the height of an object when dropped or shot up in the air.