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Assuming you won R 1 0 million in the Lotto jackpot, with a promise to make a payment of R 2 million per year for

Assuming you won R10 million in the Lotto jackpot, with a promise to make a payment of R2 million per year for the next 5 years with an interest rate of 15%. Calculate the amount that will be paid to you, after 1 year and the total amount after the 5 years and indicate whether you have really won R10 million or not. Show your calculations and define each term. [10]

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