Mr . Abdou wants to buy a penthouse in Rome priced at GBP 5 0 0 ,
Fantastic news! We've Found the answer you've been seeking!
Question:
Mr Abdou wants to buy a penthouse in Rome priced at GBP Mr Abdou puts a downpayment of GBP and finances the remaining GBP using the Bai Bithaman Ajil deferred payment sale or BBA method Assume that the Annual Profit Rate APR charged by the Islamic bank in Rome is per annum and the duration of financing is years. The Islamic bank would first buy the penthouse for GBP and then sell the house to Mr Abdou at a profit, with deferred payments over the years period.
a Draw a timeline that depicts the duration and transactions of house financing above,
b Find monthly payment or monthly instalment
c What is the total payment made by Mr Abdou over years
d What is the total profit made by the Islamic bank under BBA financing
Related Book For
Posted Date: