The Congregation Was Facing Declining Membership and Realized That If

question 111

Multiple Choice

The congregation was facing declining membership and realized that if the trend continued, they would soon be faced with problems paying the mortgage on the building. In order to attract new members, they implemented a variety of programs such as free childcare while parents were attending services, free week-long summer camps for school-aged children of members, and a variety of youth programs throughout the year. What model did this congregation adopt to increase their membership?

• A) a secular model
• B) a capitalist model
• C) an industrial model
• D) a market model

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Definitions:

Effective Interest Rate

The actual annual interest rate that an investor earns or pays, taking into account the effect of compounding over the period.

GICs

Guaranteed Investment Certificates, a secure investment that guarantees to preserve the principal amount while offering a fixed interest rate over a specified period.

Compounded Semiannually

A method of computing interest where the interest is added to the principal twice a year, leading to interest being earned on interest from the next period.

Semiannual Compounding

Refers to the process of applying interest to a principal amount twice a year, resulting in interest being calculated on previously earned interest as well as the principal.