Amir joined Takaful Sayang by paying RM400 per month. Takaful Sayang, with a contract mudharabah investment, has two accounts which are Participant Special Account (PSA) a Participant Account (PA). The takaful offers the following PSA rates: Year First Second Third Fourth Fifth Sixth to tenth Eleventh onwards PSA (%) 100* -10 -40 -50 -60 -70 -80 * Initial percentage. Any positive or negative increment in the monthly rates shown above is based on the initial rate in the first year. After twenty-five (25) years, Amir wants to terminate the takaful contract. Based on the abo information, answer the following questions. (a) How much is the total amount of money that has become tabarru' in that Takaful?

Amir joined Takaful Sayang by paying RM400 per month. Takaful Sayang, with a contract mudharabah investment, has two accounts which are Participant Special Account (PSA) a Participant Account (PA). The takaful offers the following PSA rates: Year First Second Third Fourth Fifth Sixth to tenth Eleventh onwards PSA (%) 100* -10 -40 -50 -60 -70 -80 * Initial percentage. Any positive or negative increment in the monthly rates shown above is based on the initial rate in the first year. After twenty-five (25) years, Amir wants to terminate the takaful contract. Based on the abo information, answer the following questions. (a) How much is the total amount of money that has become tabarru' in that Takaful?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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