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FINANCIAL LITERACY ASSIGNMENT 2. Compound Interest: a. A tithe of $35,000 is made to a local church. The money is to be
Posted: Sun Jun 05, 2022 10:50 am
by answerhappygod
- Financial Literacy Assignment 2 Compound Interest A A Tithe Of 35 000 Is Made To A Local Church The Money Is To Be 1 (23.5 KiB) Viewed 52 times
FINANCIAL LITERACY ASSIGNMENT 2. Compound Interest: a. 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? b. What is the annual interest rate (APR) required for $22,500 to accumulate to $50,000 in 14 years with interest compounded semi-annually? c. What is the present value or Principal, that will return $40,000 in a Guaranteed Investment Certificate (GIC) in 9 years at 4 % % APR compounded quarterly?