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(b) Two Murabaha-based Islamic Interbank Money Market (IIMM) instruments each with a face value of RM10 million and 90 days to maturity are trading at
(b) Two Murabaha-based Islamic Interbank Money Market (IIMM) instruments each with a face value of RM10 million and 90 days to maturity are trading at the following prices: Instrument X - RM 9,987,000 Instrument Y RM 9,978,000 If an investor buys each and holds it to maturity, which instrument has higher return? (10 marks)
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