Question: 1. Calculating Future Value
Your nonprofit organization has received a temporarily restricted fund of $100,000 to be used in five years. You can deposit it in the bank to earn 6 percent interest compounding yearly. How much will you have in five years?
2. Identifying Types of Costs
A settlement house is sending in a grant proposal to a foundation to establish a computer lab for its after-school program. Identify each of the following costs by type: direct, indirect, fixed, variable, start-up, and/or in-kind.
1. Cost of printer ink
2. Salary of grant writer
3. Cost of computers
4. Cost of using the space
5. Costs of renovating the space
6. Costs of utilities
7. Salary of computer specialist