Encik Baharom applied for an Islamic Overdraft facility of RM75,000 from Perasang Jaya Bank Berhad. The facility was secured against a property worth RM150,000. His approved drawing limit was 87% of the property value. The tenor of the overdraft facility was 5 years upon which Encik Baharom has to settle the principal sum in one bullet payment. The contractual profit was 1 1.50% per annum. The effective profit rates were as indicated below. The monthly transactions of the current account were as follows: No of Days UtilizedDebit (RM) Credit (RM) Balance Outstandi 56,989 11,983 02/10/2016- 11/10/2016 12/10/2016-20/10/2016 21/10/2016- 24/10/2016 25/10/2016-27/10/2016 28/10/2016-31/10/2016 3,999 878 135,909 ote: Profit rate from 01/10/2016-15/12/2016-9.85%pa Profit rate from 1 6/12/20 16-31/12/2016-10.25% pa Required: Compute the following based on the account balance as at end of October 2016 (i) Monthly profit (ii) Monthly rebate (5 marks) (10marks) (Total: 15 marks) Encik Baharom applied for an Islamic Overdraft facility of RM75,000 from Perasang Jaya Bank Berhad. The facility was secured against a property worth RM150,000. His approved drawing limit was 87% of the property value. The tenor of the overdraft facility was 5 years upon which Encik Baharom has to settle the principal sum in one bullet payment. The contractual profit was 1 1.50% per annum. The effective profit rates were as indicated below. The monthly transactions of the current account were as follows: No of Days UtilizedDebit (RM) Credit (RM) Balance Outstandi 56,989 11,983 02/10/2016- 11/10/2016 12/10/2016-20/10/2016 21/10/2016- 24/10/2016 25/10/2016-27/10/2016 28/10/2016-31/10/2016 3,999 878 135,909 ote: Profit rate from 01/10/2016-15/12/2016-9.85%pa Profit rate from 1 6/12/20 16-31/12/2016-10.25% pa Required: Compute the following based on the account balance as at end of October 2016 (i) Monthly profit (ii) Monthly rebate (5 marks) (10marks) (Total: 15 marks)