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:

Species Interaction

The interactions between different species within an ecosystem, which can include competition, predation, symbiosis, and mutualism, influencing the survival and reproduction of the species involved.

Precise Boundaries

Definite or exact limits or borders of an area, space, or concept.

Ecosystem

An ecosystem is a community of living organisms in conjunction with the nonliving components of their environment, interacting as a system through nutrient cycles and energy flows.

Abiotic Environment

Inanimate chemical and physical components of the environment influencing living beings and ecosystem operations.