Question: You are interested in executing a Murabaha contract to meet your business needs. The financing amount is AED. 79 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. 79 million. The bank accepted your offer of a profit rate of 9% per annum. The tenor of the contract is one year and the entire price will be paid at the end of 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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