Originally Posted By: Mike21A bullet fired straight up into the air will reach a peak of 0 fps. As it begins the return to the earth there is nothing but gravity causing its return.
The fastest this bullet can travel is terminal velocity.
A bullet can travel very fast downward assuming it can be shot high enough in order to reach terminal velocity through all the atmospheric conditions.
All the theory based math equations are great, but they still dont trump basic high school science. 
Of course there are variables that come into play (height, and mass).
Your High Science teacher called, and left a phone message.
"Dear Michael. Please mail your high school diploma back at your earliest convince. We made a terrible mistake"
A 30 caliber bullet will reach ~ 150-160 fps, no matter how high it went, and no matter how long it falls... it will tumble and mostly travel sideways. Terminal velocity is reached fairly quickly.
Smaller bullets will reach slower velocities, and a 17 caliber bullet will reach ~40 to 50 fps.
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