You Are Going to Pay $800 into an Account at the Beginning

question 110

Multiple Choice

You are going to pay $800 into an account at the beginning of each of 20 years.The account will then be left to compound for an additional 20 years until the end of year 40,when it will turn into a perpetuity.You will receive the first payment from the perpetuity at the end of the 41st year.If the account pays 14%,how much will you receive from the perpetuity each year (round to nearest $1,000) ?

• A)$140,000
• B)$150,000
• C)$160,000
• D)$170,000

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Definitions:

Job Variety

The extent to which a job includes various activities and tasks, providing a wider range of experiences and skills development for the employee.

Registered Medical Assistant

A healthcare professional who has been officially certified to perform administrative and clinical tasks in support of health practitioners.

American Medical Technologists (AMT)

A professional organization that provides credentialing opportunities for medical assistants and continuing education opportunities.

Time Efficiency

The effective use of time to optimize productivity and minimize waste or unnecessary effort.