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Respond to 1 other students and identity points of agreement and disagreement regarding your characterizations of Old and New Testament community and spiritual formation. At least 300 Words with Turabian Citing

Although spiritual formation is not a Biblical concept, it is essential to each believer’s life. What is spiritual formation? To understand spiritual formation, we must first properly define each term. As Paul Pettit stated, “Spirituality is the dynamic, holistic, maturing relationship between the individual believer and God, and between the individual believers and others.” In other words, God created man to be in relationship with him as well as others in the world. Formation is defined as, “an ongoing process of the believer’s actions and habits being continually transformed (morphed) into the image of Jesus Christ.” In the simplest terms, spiritual formation is the maturing process of a believer being transformed into the likeness of Christ by the agent Holy Spirit working in the life of the believer. Moreover, spiritual maturity does not only take place in private but also in public in the context of community. What are some differences and similarities of spiritual formation in the Old Testament versus New Testament?

After a careful examination of Old Testament Scripture, an important concept essential to spiritual formation was community. The first mentioned of community is in Genesis 1:26; “It is not good for man to live alone” New International Version. Although the above verse talks about Eve being created as a suitable helpmate for Adam, it also speaks of man as being a social being. In other words, God designed man not only to relate to Him, but others in the world. After man sinned, God began his redemptive and restorative plan in the context of community. As Pettit stated, “Community is a group of people whom have share common interests, participate in activities together for common cause.” Adam’s sin not only affected him, but also his posterity. In the Old Testament, God promised to relent the punishment which was due to man only if man kept the conditions of the covenant. However, God knew that man couldn’t refrain from sinning alone without the help of others. Consequently, God created a community that consists of priests who offered sacrifices and sin offerings for himself and the community. In other words, everyone who was part of the community relied on each other.

In comparison to the Old Testament, the concept of community is an essential part of the New Testament church. As the Bible stated in Ephesians 4:5, “One Lord, one faith, and one Baptist.” In the context of community, each believer is baptized into the body of Christ through the Holy Spirit. Although there are several Christian denominations, each believer is part of the universal church. Unlike the Old Testament, each believer has access to the Holy Spirit which is considered “the change agent.” In the Old Testament, the Holy Spirit was only given to select individuals to empower them for service and to live holy. If the selected leader sinned or was unrepentant, the Holy Spirit would depart. Although the believer under the New Testament can grieved the Holy Spirit, the believer does not have worry about losing the gift of the Holy Spirit due to God’s redemptive grace provided through Jesus Christ. In comparison to the Old Testament, the goal of spiritual formation in the New Testament is holiness. We can only accomplish sinless perfection by maintaining our relationship with God as well as with others in the body of Christ.

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July 1, 2023

11) If the annual interest rate is 3%, $10 000 received today has the same present value as ________ received one year from now.

A) $10 000

B) $13 000

C) $300

D) $9707.74

E) $10 300

12) Consider a bond with a face value of $10 000, a three-year term and a coupon payment of 6% made at the end of each year. The face value of the bond is repaid at the end of the term. Which of the following equations will correctly calculate the present value of the bond?

A) PV = + +

B) PV = + +

C) PV = + +

D) PV = + +

E) PV = + +

13) In a competitive financial market, the equilibrium price of an asset will equal the

A) present value of the asset.

B) future value of the asset.

C) sum of present value of the asset multiplied by the interest rate.

D) future value of the asset multiplied by the interest rate.

E) issue price of the asset.

14) Consider a bond that promises to make coupon payments of $100 each year for three years (beginning in one year's time) and also repays the face value of $2000 at the end of the third year. If the market interest rate is 6%, what is the present value of this bond?

A) $267.30

B) $283.02

C) $1763.22

D) $1854.67

E) $1946.53

15) Consider a bond that promises to make coupon payments of $100 each year for three years (beginning in one year's time) and also repays the face value of $2000 at the end of the third year. If the market interest rate is 4%, what is the present value of this bond?

A) $288.45

B) $1866.67

C) $1941.57

D) $1966.39

E) $2055.50

16) When considering the present value of any financial asset that makes a stream of payments in the future, we know that if the market interest rate falls,

A) the present value of the asset will rise.

B) the future value of the asset will rise.

C) the current value of the asset will fall.

D) the present value of the asset will fall.

E) the present value of the asset is unaffected.

17) Consider a Government of Canada bond with a face value of $1000, and a present value of $925. If this bond is offered for sale at $960, then

A) the excess demand for the bond at $960 will drive the price up to the face value of the bond.

B) individuals will purchase the bond at the offer price which will drive the market rate of interest up.

C) individuals will purchase the bond at the offer price which will drive the market rate of interest down.

D) the equilibrium market price of this bond has been achieved.

E) the lack of demand for this bond will drive the price down until it reaches its equilibrium market price of $925.

18) Consider a Hydro Quebec bond with a face value of $1000, and a present value of $1175. If this bond is offered for sale at $1025, then

A) excess supply of this bond will drive the price down until it reaches its face value.

B) individuals will purchase the bond at the offer price which will drive down the price further.

C) excess demand for this bond will drive the price up until it reaches its equilibrium market price of $1175.

D) the equilibrium market price of this bond has been achieved.

E) Hydro Quebec will be forced to change the face value of the bond.

19) If the current market price of a bond is less than the present value of the income stream the bond will produce, the price will ________ due to excess ________ of/for the bond.

A) rise; supply

B) fall; supply

C) rise; demand

D) fall; demand

20) An analyst is considering the purchase of a Government of Canada bond that will pay its face value of $10 000 in one year's time, but pay no direct interest. The market interest rate is 4% and the bond is being offered for sale at a price of $9800. The analyst should recommend

A) purchasing the bond because the buyer will earn a profit of $185.

B) purchasing the bond because the bond price is equal to its present value.

C) not purchasing the bond because the price is lower than its present value.

D) not purchasing the bond because the buyer could earn an additional $192 by investing the $9800 elsewhere.

E) not purchasing the bond because the buyer could earn an additional $392 by investing the $9800 elsewhere.