Question 3. Davis wishes to invest his $ 45 000 cash in a financial asset that pays him identical annual income at the end of each year for the next 15 years. The annual interest rate is expected to be 12%, compounding annually over this 15- year period. Required: a) How much is the annual income payment Davis would receive for the investment of $45 000 cash? b) Davis also has a house for rent which the tenant pays him $1600 at the beginning of each month. Davis does not want to spend this money but would like to invest it in another asset with interest rate of 14% per year, monthly compounding for his son's higher education in 5 years. How much would he accumulate for his son's education by this investment