a$)$ Dr$.$ G plan to have his own building. The building will cost him $$3000000.$ For that

purpose, he has approached FBC bank. The bank requires him to pay for the down

payment of $10\%$ and monthly payment of $$15000$ for $25$ years. Other payments

involved are lawyer fees and insurance for $$20000$ and $$50000$ respectively. You are

required to calculate:

i$)$ Interest amount

ii$)$ Interest rate

iii$)$ The rebate if Dr$.$ G wants to settle all his debts after $20$ years.

b$)$ Weston D has won an annuity that pays him $$5000$ every $4$ months for $2$ years.

Prepare the amount of annuity if the interest rate is $9\%$ compounded every $4$ months.