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TRY IT .... Ahmed House has taken a OMR 150,000 mortgage on his house at an interest rate of 5% per year. If the mortgage

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TRY IT .... Ahmed House has taken a OMR 150,000 mortgage on his house at an interest rate of 5% per year. If the mortgage calls for 30 equal annual payments, what is the amount of each payment? 1. What is the present value of a OMR 1,000 per year annuity for five years at an interest rate of 12%? 2. What is the present value of a six-year OMR 5,000 per year annuity at a discount rate of 10%

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