Farhana approaches the Islamic bank and applies for financing under the concept of Bai Bithaman Ajil. Let us say the purchase price for the house is RM800,000 and profit rate is 10 percent per annum. The period of financing is 30 years. Compute the sale price, monthly installments and profit amount based on the constant rate of return (CRR) method.

Q: A discount note with a face value of $5,000 will mature in 182 days. If the simple discount rate is…

A:

Q: What is the minimum number of year-end deposits that have to be made before the total value of the…

A:

Q: Jan Petri is the stockholder and operator of Galaxy LLC, a motivational consulting business. At the…

A: The objective of the question is to calculate the stockholders' equity for Galaxy LLC at the end of…

Q: True or false: The future value of payment means its equivalent value at a subsequent date.

A: The given data is: The future value of payment means its equivalent value at a subsequent date The…

Q: Rufaro has been a full-time student at the University of Manitoba for the past four years. She has…

A: To determine the total principal Rufaro will owe at the end of her grace period, we first calculated…

Q: How do I calculate a loan? Given the cost, the APR and how many years till its paid off (15 year…

A: here given details are the cost, Annual percentage rate (APR) and the total tenure of the loan…

Q: does a simple interest investment generate less interest than a compound interest loan?

A:

Q: Some trucks purchased by a U-Haul franchise should last 7 years. The purchase price was $183,000.…

A: Given that, the cost price = $5,000, the purchase price = $183,000  and salvage value = $23,000 .…

Q: A lender requires a minimum down payment of 12% of the value of the home. You have $29,000 cash…

A: The lender requires a minimum down payment of 12% of the value of the home. Let x be the maximum…

Q: When buying on installment, what is the formula for calculating the periodic payments?

A:

Q: With a beginning balance of $1200 and no additional charges during the next three months, you will…

A: Here in the table below we find the beginning balance, finance charges, new balance and minimum…

Q: The annual effective interest rate is 5%.Find the monthly effective discount rate

A: To find the monthly effective discount rate, we need to convert the annual effective interest rate…

Q: Mr. and Mrs. Smith have just purchased a $1,200,000 home and made 20% down payment. The balance can…

A: Given: Total purchased value of house is $1,200,000 Down payment = 20% of $1,200,000  = $240,000…

Q: Find the discount rate equivalent to simple interest at the rate 5% on a 3-month loan.

A: (1+rt)-1 is the discount factor at a simple interest rate r. (1-dt) is the discount factor at a…

Q: Francella  is considering a loan of $15,000 at 12% interest paid monthly. She is undecided about…

A: Given:  Loan amount, P    = $15,000 Annual interest, R = 12% Term of loan, t     = a) 2 years…

Q: a guidebook says that one night at a mid range hotel in capital city republica cost between $25 u.s…

A: