How To Access Windows Host Folders From Redhat Linux Guest in Oracle VirtualBox

After you install a new virtual machine and install a guest operating system, how do you access files/folders from your host from guest? There are two basic approaches, ftp or folder sharing. Here is to address the folder sharing approach.
 
This guide is for the following environment:

• Windows 7 Host Platform
• Oracle VirtualBox 4.1.7
• Red Hat Enterprise Linux 5.8 Server (x86) Guest Platform   

You just need to follow the three steps:

1. Set shared folder
From the VirtualBox menu  click Devices->Shared Folders ...

2. Install Guest Additions
From the VirtualBox menu  click Devices->Install Guest Additions ...

3. Mount windows shared folders in Red Hat Linux
    3.1 Create a mount point using the following command
          sudo mkdir /mnt/shared-folder
    3.2 Mount the shared folders using the following command
          sudo mount -t vboxsf shared-folder /mnt/shared-folder

Note: If you work on the VMware, you still need three steps. to mount windows shared folders, do the command:
          sudo mount -t vmhgfs .host:/Share /mnt/share