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Illustration. Arif requested to a local Islamic bank to finance the purchase of computer from a local retailer. Cash price is PKR50,000. Bank agreed to

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Illustration. Arif requested to a local Islamic bank to finance the purchase of computer from a local retailer. Cash price is PKR50,000. Bank agreed to supply the machine of the required brand at IBOR plus 3%. One-year IBOR rate is 9% in the domestic market. Length of the credit period is one year. - Required: Calculate the selling price of the computer under Murabaha by the bank based on monthly and quarterly payment plans

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