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please provide a very accurate answer. 5.5 CASE 4: IJARA WA IQTINA: FINANCE LEASE CONTRACT A bank customer requests financing for five air conditioning units
please provide a very accurate answer.
5.5 CASE 4: IJARA WA IQTINA: FINANCE LEASE CONTRACT A bank customer requests financing for five air conditioning units (A/Cs) on a three-year lease from the bank. A bank buys assets and leases them for three years. Financial details US$ Cost of A/Cs 10,000 Profit required by the bank Year 1 900 Year 2 700 Year 3 500 The lessee pays the insurance (Takaful) 11. What is the yearly rental the bank will charge in order to cover the costs and to make the required profit? 5.5 CASE 4: IJARA WA IQTINA: FINANCE LEASE CONTRACT A bank customer requests financing for five air conditioning units (A/Cs) on a three-year lease from the bank. A bank buys assets and leases them for three years. Financial details US$ Cost of A/Cs 10,000 Profit required by the bank Year 1 900 Year 2 700 Year 3 500 The lessee pays the insurance (Takaful) 11. What is the yearly rental the bank will charge in order to cover the costs and to make the required profitStep by Step Solution
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