Question: QUESTION 1 ) You are interested in executing a Murabaha contract to meet your business neods. The financing amount is AED 74 million. The bank

QUESTION 1 )

You are interested in executing a Murabaha contract to meet your business neods. The financing amount is AED 74 million. The bank accepted your offer of a profit rate of 9% per annum. The tenor of the contract is one year The Murabaha contract will be paid in 10 installments? What will be the value of each installment? Note: Please write your final answer( amount of one installment) in the box below. Please write your detailed calculation steps for calculations in the space provided in the next question

QUESTION 2 )

You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 88 million. The bank accepted your offer of a profit rate of 6% per annum. The tenor of the contract is one year What will be the price of the Murabaha contract? Note: Please write your final answer (the calculated price of Murabaha) in the box below. Please write detailed steps for calculations in the space provided in the next question

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