A tithe of $35,000 is made to a local church. The money is to be invested and the accumulated amount used to purchase a new youth group bus. How long will it take for the tithe to double in value if the money is invested at 7.75% APR compounded monthly?
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A tithe of $35,000 is made to a local church. The money is to be invested and the accumulated amount used to purchase a new youth group bus. How long will it take for the tithe to double in value if the money is invested at 7.75% APR compounded monthly?
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- a tithe of $35000 is made to a local church. the money is to be invested and the accumulated amount used to purchase a new youth group bus. how long will it take for the tithe to double in value if the money is invested at 7.75% APR compounded monthly?Hal wants to establish a savings fund from which a community organization could draw $890 a year for 20 years. If the account earns 2.5 percent annual interest, what amount does he have to deposit now to achieve this goal? Use Exhibit 1B-4. (Round time value factors to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Amount to be deposited $A resident will give money to his town to purchase a statue honoring the town founders and will pay to maintain the work at a cost of $500 per year forever. If an interest rate of 5% is used, and the resident gives a total of $25,000; how much can be paid for the statue?
- Maintenance money for a new building has been sought Mr. Kendall would like to make a donation to cover all future expected maintenance costs for the building. These maintenance costs are expected to be P43322 each year for the first 5 years, P53709 each year for year 6 through 10 and P64659 each year for year 11 through 15. If money is placed in account that will pay 12% interest compounded semi-annually, how large should the gift be? INCLUDE THE CASH FLOW DIAGRAM OF THIS PROBLEM AND ROUND OFF INTEREST RATE TO 5 DECIMAL PLACES AND YOUR FINAL ANSWER TO 2 DECIMAL PLACES.Mr. Crabapple wants to donate money now for an account that will allow a favored charity to make $17,000 withdrawals at the end of each of years 19 to 44. How much should he contribute today if investment managers Dogwood Associates expect to earn returns averaging 4.3% per year on the charity's foundation account? (This is a 26-year deferred annuity, with $17,000 to be paid out at the end of each of years 19 to 44.) A. $128,584.54 B. $115,644.17 C $263,040.12 D. $123,283.36 E. $156,230.80You decided to fund a charity for ten years. The first payment will be made one year from today (at the end of year one) and will be $8,350. Each year after that, the charity will receive payment from you annually. The payment will increase at a rate of 2% per year after the second payment. If the annual interest rate is 15%, what is the present value of this endowment? no excel and calculations please
- Camosun College has just received a donation of $50,000. The donor has stipulated that the funds should be used to fund an ongoing annual bursary with the first payment given out in one year. If the money is invested into an account earning 3.71% compounded annually (j1), how much will the annual bursary be? Your Answer:A business man must fund an account for him to pay the maintenance of the building after it shut down in 10 years. The costs until the business shutdown is part of the operating cost of the business while the maintenance costs starts in 10 years at 23,000 annually. Draw the cash flow diagram and solve on how much money should be deposited if the fund earns an interest of 12 percent?Ted Houser wishes to accumulate a fund of $40,000 for the purchase of a house and lot. He plans to deposit $4,000 semiannually at the end of each 6 months. Assuming interest at 14% a year compounded semiannually, how many deposits of $4,000 each will be required, and what is the amount of the last deposit?
- A man wants to have P500,000 to pay for the downpayment of a new house. In order to have this money, he sets up a fund earning 12% compounded monthly and deposits P40,000 at the end of each month for as long as necessary. When is the earliest time will he have at least P500, 000 in the fund?A group of college students decided to invest the money they earned from the fund- raising project. After 6 months from today, they want to withdraw from this fund P 10,000.00 quarterly for 1 year to fund for community service. How much is the present total deposit if the interest rate is 4% converted quarterly? 1.A person sells some property She will be paid a lump sum of $80.000 in 4 years. Until then, the buyer pays 7% simple interest every quarter (a) Find the amount of each quarterly to payments to pay the sum. sets up a pays semiannually. amount of each payment into the fund (c) Complete the sinking fund table Click here to view page 1 of the sinking fund table Click here to view page 2 of the sinking fund table. (a) The simple interest payment is (Round to the nearest cent as needed.)