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What the amount awarded is approximately

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Problem 1: After a golf ball struck Boye on the head he was awarded an amount from the Putter Fund as compensation for his injuries. He chose to receive R18 900 per month indefinitely. If money is worth 9,95% per year, compounded monthly, then the amount awarded is approximately

[1] R6 565 554.
[2] R189 950.
[3] R2 279 397.
[4] R7 252 333.
[5] none of the above

Reference no: EM132643687

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