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In Murabaha car financing contract, total cost price for the bank is R.O.100,000.The bank sells it to the customer 5% profit per annum on a
In Murabaha car financing contract, total cost price for the bank is R.O.100,000.The bank sells it to the customer 5% profit per annum on a 5 year terms.Down Payment is R.O 20000. Assume for simplicity, it is paid back on yearly basis.Calculate the annual installment?
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