c. CIMB Islamic Bank Bhd had purchased Negotiable Islamic Debt Certificate (NIDC) with a nominal value of RM2,500,000 with the following details: Issuance date :7 March 2022 Maturity date :7 July 2022 Transaction date :7 April 2022 Yield : 5% per annum Determine the price paid by CIMB Islamic Bank Bhd for the NIDC?
c. CIMB Islamic Bank Bhd had purchased Negotiable Islamic Debt Certificate (NIDC) with a nominal value of RM2,500,000 with the following details: Issuance date :7 March 2022 Maturity date :7 July 2022 Transaction date :7 April 2022 Yield : 5% per annum Determine the price paid by CIMB Islamic Bank Bhd for the NIDC?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:c. CIMB Islamic Bank Bhd had purchased Negotiable Islamic Debt Certificate (NIDC) with a nominal
value of RM2,500,000 with the following details:
Issuance date :7 March 2022
Maturity date :7 July 2022
Transaction date :7 April 2022
Yield : 5% per annum
Determine the price paid by CIMB Islamic Bank Bhd for the NIDC?
Transcribed Image Text:d. Public Islamic Bank Bhd with excess fund of MYR9,000,000 decided to place Islamic Negotiable
Instrument of Deposit (INID) with CIMB under the mudharabah (profit sharing) basis. The following
are the details :
Issuance date : 31 December 2021
Maturity date : 31 December 2022
Transaction date : 15 October 2022
PSR : 80:20
Expected dividend rate : 10.5%
Profit : Quarterly dividend
What is the expected amount received by Public Islamic at the end of the INID maturity?
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