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Q10: Ms. Rawan a science school teacher is working with Muscat International School. She is having one daughter of 05 years old. She desires to
Q10: Ms. Rawan a science school teacher is working with Muscat International School. She is having one daughter of 05 years old. She desires to invest some amount of money for her daughter's marriage. She believes that her daughter will get married when she reaches 25 years of age and will require amount of 40,000 OMR for the marriage ceremony. a) How much money Ms. Rawan needs to deposit now, if money compounds monthly at 6% interest rate? b) How much money she needs to deposit now if her requirement is 50,000 OMR for the marriage with 10% simple interest. c) Investment in the bank is more profitable than the stock market. Discuss critically (2+2+1=5 Marks)
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