a. Waleed wants to find out the annual rate of interest, will a principal RO 559 to amount to RO 7559

in 18 years?

b. Saif is planning to buy a house in 18 years. He wants to invest RO 559 now and hopes to have RO 7559 to spend on the house when he buys it. What kind of interest rate would he need if his investment is compounded monthly?

c. By using Excel, solve the following: (Note provide a screenshot of your work)

If you have R.O. 7559 and you want to make a small business that will provide you a steady income for 18 year. Currently, banks are paying 18 % compound interest on the annual basis. How much would you be able to receive at the end of each year?