Case 6.1: Charleston Painless Surgery Center Key concept: Time value of money and Excel functions to automate computations M eredith Becker was born in Charleston, South Carolina, but she traveled upstate to earn a bachelor's degree in business from Clemson University. After graduation, she obtained a job at the Medical University of South Carolina (MUSC) and subsequently received her master's degree from MUSC's executive MHA program. After six years at MUSC with a wide variety of successful assignments, Meredith became chief operating officer of Charleston Painless Surgery Center (CPSC), a specialty surgery center owned by six physicians. Soon after starting at CPSC, Meredith found herself facing a series of decisions involving time value analysis. You are to assume the role of her MHA intern and see how you, with the tools available in Microsoft Excel, can help her with these decisions. 4. Time value analysis involves using a periodic rate to either discount or compound cash flows. How do we determine the appropriate periodic rate to use?