Use the Present Value and Future Value Tables Included in Appendix

question 59

Multiple Choice

Use the present value and future value tables included in Appendix 8 and on the textbook companion website.
- An investor wants to withdraw $8,000 (including principal) from an investment fund at the end of each year for 10 years. How should the investor compute the required initial investment at the beginning of the first year if the fund earns 10 percent compounded annually?

• A) $8,000 times the amount of an annuity of $1 at 10 percent at the end of each year for 10 years
• B) $8,000 divided by the amount of an annuity of $1 at 10 percent at the end of each year for 10 years
• C) $8,000 times the present value of an annuity of $1 at 10 percent at the end of each year for 10 years
• D) $8,000 divided by the present value of an annuity of $1 at 10 percent at the end of each year for 10 years

Acknowledge the evolution of bookkeeping systems in medical practices and their respective advantages and disadvantages.

Understand the proper handling and sorting of currency and checks.

Identify the key components and information on checks and banking documents.

Recognize the various types of checks and their specific uses.

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