Question
Customer Muhammad went to Bank Al-Safa to buy a Passat car model 2020 from Zalmout Company. The customer Muhammad brought a price offer from Zalmout
Customer Muhammad went to Bank Al-Safa to buy a Passat car model 2020 from Zalmout Company. The customer Muhammad brought a price offer from Zalmout Company for the value of the car at $ 50,000. Assuming that Muhammad would buy the car through the Murabaha for a period of 4 years at a profit rate of 3.75% considering that The seriousness payment is 15% of the value of the Murabaha contract, the cost of car insurance is $ 600, and the cost of the car license is $ 300. 1. Calculate the profit of Murabaha. 2 points 2. Calculate the value of the monthly payment if it is regular. 2 points 3. Calculate the total annual payments in case the first year was 10 payments. 2 points 4. Assuming that the customer rejected the deal after the bank bought the car, and the bank sold the car for $ 39,500, what would be the consequence for the customer, Muhammad and the bank? 2 points 5. Assuming that Muhammad pays $ 5,000 to the car company from which the bank will purchase it, what is the classification of the contract, and if the bank knows that, what is the appropriate procedure? 2 points
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