Mr. Bablu decided to purchase a factory costing Rs. 12 million. He personally had Rs. 7million and opted financing from Islamic bank for the remaining amount. Profit rate was agreed @ 18% p.a. for 5 years tenure with semi-annual rentals. The bank's share will be divided into units and Mr. Bablu undertakes to purchase one unit from the bank on semi-annual basis and hence at the end of 5 years Mr. Bablu will become the sole owner of the factory. Assume Musharakah agreement date as January 1, 2018.
Required:
(a) Per Unit Cost, Per Unit Rent and the Date of first Unit Sale
(b) Prepare schedule for the entire tenure.