Question
(Q3-A) Salman wants to save money for his child's university expenses. He deposits $1000 at the beginning of each year, for 20 years, at an
(Q3-A) Salman wants to save money for his child's university expenses. He deposits $1000 at the
beginning of each year, for 20 years, at an interest rate of 6%. How much is available for his
child when child will start university. 10 Marks
(Q3-B) Ahmed deposit money today in account that pays 6.5% annual interest, how long will it
take to double his money? Explain Difference between Mudarba and Musharka based on Islamic
Finance.
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Finance Applications and Theory
Authors: Marcia Cornett, Troy Adair
3rd edition
1259252221, 007786168X, 9781259252228, 978-0077861681
