Question: You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 54 million. The bank accepted your

You are interested in executing a Murabaha contract to meet your business

You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 54 million. The bank accepted your offer of a profit rate of 1% per annum. The tenor of the contract is one year. The entire Murabaha price will be paid in 3 equal 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

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Nick borrowed money from his parents to become a licensed electrician. Nick must repay his parents a total of $13,600.00. Calculate the amount of each end of the month payment Nick must invest into...

The figure shows the production possibilities frontier for Mario's, a pizza and pasta producer. Draw a point at which the firm achieves production efficiency, Label it Efficient. Draw a point that is...

Rajeev works on a fixed annual salary of $75,000. How much CPP should he pay in 2023? O a. $3,754.45 O b. $3,753.75 O c. $2,988 O d. $4,254.25

how does new balance use ai to make personnel decisions

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....

QUESTION 6 5 points Save An You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 54 million. The bank accepted your offer of a profit rate of...

you are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 43 million. The bank accepted your offer of a profit rate of 9% per annum. The tenor of...

You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 38 million. The bank accepted your offer of a profit rate of 6% per annum. The tenor of...

You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 56 million. The bank accepted your offer of a profit rate of 2% per annum. The tenor of...

QUESTION 4 5 pc You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 79 million. The bank accepted your offer of a profit rate of 9% per...

Calculate Income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40 per week. (Round your intermediate calculations and final answers to 2...

Question Case study 1 Harrods department store has a new promotional program that offers a free gift-wrapping service for its customers. Harrods department stores customer service department has...

Given the point ( - 6 , 3 2 ) in polar coordinates, what are the Cartesian coordinates of the point? Select the correct answer below: ( - 6 , 0 ) ( 0 , 6 ) ( 0 , - 6 ) ( 6 , 0 )

Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the engagement, up to six months after services commence. Alsup recognizes service revenue for...

1. Which pleading (a document filed with the courtsee Chapter 2) was at the center of the dispute in this case? 2. What must this pleading state in a suit alleging violations of Section 10(b) and...

On January 10, 2015, Delta Corporation acquired 12,000 shares of the outstanding common stock of Kennedy Company for $600,000. At the time of purchase, Kennedy Company had outstanding 48,000 shares...

Terry Mason organized The Fifth Season at the beginning of February 20Y4. During February, The Fifth Season entered into the following transactions: a. Terry Mason invested $15,000 in The Fifth...

Rachel Robertson wishes to use mean-per-unit sampling to evaluate the reasonableness of the book value of the accounts receivable of Smith, Inc. Smith has 10,000 accounts receivable accounts with a...

Question 2 0 . 0 / 2 . 0 points ( graded ) is a subset of one identified segment where a specific product is focussed and customization is done to satisfy specific requirements of the customers....

Consider the two mutually exclusive investment projects in Table P5.47. On the basis of the NPW criterion, which project would be selected if you use an infinite planning horizon with project...

The DNA Corporation, a biotech engineering firm, has identified seven R&D projects for funding. Each project is expected to be in the R&D stage for three to five years. The IRR figures shown in Table...

Clay Harden borrowed $25,000 from a bank at an interest rate of 9% compounded monthly. The loan will be repaid in 36 equal monthly installments over three years. Immediately after his 20th payment....

The personnel manager for a large airline has claimed that, on average, workers are asked to work no more than 3 hours overtime per week. Past studies show the standard deviation in overtime hours...

The Oasis Chemical Company develops and manufactures pharmaceutical drugs for distribution and sale in the United States. The pharmaceutical business can be very lucrative when useful and safe drugs...

In a hypothesis test, indicate the type of statistical error that can be made if a. The null hypothesis is rejected. b. The null hypothesis is not rejected. c. The null hypothesis is true. d. The...