Witzke Retired from Ontario Hydro and Received a Payment of $980

question 172

Multiple Choice

Witzke retired from Ontario Hydro and received a payment of $980 000.00 at age 56. He invested that sum of money at 5.5% compounded semi-annually until he was 65. At that time he converted the existing balance into an ordinary annuity paying $10 250.00 every month, with interest at 5% compounded monthly. How many payments will be made?

• A) 252
• B) 21
• C) 271
• D) 183
• E) 23

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Definitions:

Pre-Training Intervention

Activities or measures taken before the start of a training program to prepare participants and maximize learning outcomes.

Mastery Goals

Objectives focused on developing competence or mastering a skill rather than on outperforming others.

Overlearning

The process of practicing a skill beyond the point of mere proficiency to ensure it can be performed easily and automatically.

Training Content

The material, topics, and information covered in a training program, designed to meet the learning objectives.