A Wealthy Donor Made a $50,000 Contribution to a Local

question 11

Multiple Choice

A wealthy donor made a $50,000 contribution to a local charity. The charity invested this amount for three years at an interest rate of 2.4% compounded annually. At the end of this time, the charity wished to provide monthly benefits in perpetuity to those in need. Determine the amount that the charity can provide on a monthly basis.

• A) $125.12
• B) $114.74
• C) $108.66
• D) $106.21
• E) $103.90

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Definitions:

Leadership

The act of guiding or directing a group towards a goal or vision, often involving motivating and influencing others.

Power

The ability or capacity to direct or influence the behavior of others or the course of events.

Achievement

The act of accomplishing or attaining a goal through effort, skill, or courage.

Visioning Process

A strategic planning activity involving imagining the future state of an organization or project and outlining the steps necessary to achieve it.