OPG Has Set Up a Fund to Help Pay the Expenses

question 173

Multiple Choice

OPG has set up a fund to help pay the expenses for the monitoring of Pickering nuclear power plant once it is in safe storage. The balance in the fund today is $700 million, and it will earn interest at 7% compounded annually. Starting 10 years from now, $100 million will be withdrawn from the fund at the beginning of every year for 30 years. What is the annually compounded interest rate for the fund during the final 30 years?

• A) 6.61%
• B) 4.33%
• C) 0.72%
• D) 0.67%
• E) 7%

Know the annual audit percentage for tax filers and implications.

Comprehend the tax implications of excise taxes on specific goods and services.

Identify the differences between types of income and how they are taxed.

Recognize various forms of tax assistance and fraud threats.

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