Discuss the following:
Question 1:
Using the following narrative, create a general system flow chart. When a patient arrives at the clinic the patient first see the receptionist, who checks to see if the patient has been seen before. If so, the receptionist pulls the medical records from the file. If the patient is new, the receptionist has the complete the necessary forms and create a medical record. Patients are seen by the doctor in the order they arrive. If one of the two examinations rooms is empty, the nurse escorts the patient to the examination room and records the complaint. The nurse performs routine test. The doctor examines the patient and orders medical test, if necessary. A diagnosis and treatment plan is presented to the patient by the doctor. When the doctor release the patient, the patient returns to the receptionist, who prepares a bill. The patient leaves after either paying the bill or signing the form to authorize payment by his or her health insurance company. If the health insurance company refuse to pay or partially pays the bill, the receptionist bills the patient by mail. If bill is not paid the patient is refused treatment until the old bill is paid.
Question 2:
1. You decide to invest $100,000 I a program that is guaranteed to grow by 2.5% for each of the next 5 years. At the end of the 5 years, how much is your investment worth?
2. What is the effective annual rate of an investment that pays 6% for 5 years, compounded semiannually?
3. What is the present value of a single cash flow of $25,000received at the end of 10 years, if we assumes a discount rate of 5% annually? With a discount rate of 7%?
4. Suppose you deposit $100 I a savings account that compounds annually at 2%. After 1 year at this rate, the bank changes its rates of compounding to 1.5% annually. Assuming the compound rate does not change for 4 years, how much will your account be worth at the end of 5 year period?