3. Khaled is going to receive $100,000 at the beginning of each year for the next 5 years. ADCB tells Khaled that if he invests with it he will earn 10% per year compounded annually. How much will Khaled have in the savings account if he invests with ADCB. 4. Shaikha is going to buy a piece of land as a gift for her sister who is graduating at HCT in the very near future. She has been told that the piece of land she wants to buy will cost her $10,000,000. Today, Shaikha deposited $2,500,000 in a Fixed Deposit Account with the Union Bank. Calculate how long it will take Shaikha to save enough money for the ounce of god if she earns 15% interest per annum, compounded annually on the Fixed Deposit Account? 5. Saleh pays $150,000 at the end of each month into an investment with FAB. This will continue for a 5-year period. How much will Saleh have in the investment account if he earns 17% per year compounded annually. [Students should avoid short-cuts and perform calculations on a step-by-step basis so as not to lose valuable marks in case their answer in wrong] 6. Emaar will soon be completing its construction project in the Arabian Ranches Area of Dubailand. Emaar will be selling each 5-bedroom Villa for $1,500,000. At what interest rate per year compounded annually must someone invest $750,000 if they intend to buy the villa in 10-years' time? [Students should avoid short-cuts and perform calculations on a step-by-step basis so as not to lose valuable marks in case their answer in wrong]