You just had a baby girl. Now you want to plan for her education. You want to get her to a university when she is 17 years old. The university fees will be SAR60,000 every year end of year payment for five years. Also, your daughter will need a yearly expense as follow: SAR50,000 at the first year, SAR60,000 for the second and third years, and SAR40,000. Along with first year payment you will also pay for a car which will cost you SAR 85,000. You will be able to sell the car at the same year of graduation with SAR 40,000.

Because you are from a family which support the education, they will help you with the 35% of the university fees. After the graduation she will work for 3 years which you dont have to support her, by the end of the 3^rd year she will get married, which you must pay SAR 100,000 for the ceremony. You will be still worried about her, so you want create fund which will provide her SAR 25,000 for ever.

Required:

1. How much you need to deposit today (single amount) in an investment account that can gives you 9% interest rate annually to achieve your plan?
2. How much you need to deposit every year for the next 17 years in an investment account that can gives you 11% interest rate annually to achieve your plan?