Sara purchased an apartment using a diminishing Musharaka method of financing from Q Islamic Bank.

You have the following information on the transaction:

The value of the apartment is USD 500 000.

Q Islamic Bank requires 20% down payment from Sara.

The repayment period (duration of the musharaka) is 10 years.

Each year Sara will pay a rent on the apartment's share owned by the bank.

Each year Sara buys an equal share from the bank's principal amount financed.

The market rental value for the entire apartment is estimated at US30,000 per year.

Repayment is annual.

Fill the table below to answer the following questions (submit on blackboard the answers).

1. Sara's share of the apartment (ownership amount)
2. Bank's share of the apartment (ownership amount)
3. Bank's share of the apartment in the 5^th year (ownership amount)
4. Annual repayment of the principal amount financed to bank on the 6^th year
5. Rent payment to bank on the 7^th year
6. Total Payment to the bank on the 3^rd year
7. Total Bank's profit

Year	Rent payment to bank	Annual repayment of the principal amount financed to bank	Total Payment to the bank	Bank Ownership (%)	Client Ownership (%)
Start of the contract	none	none	none	80%	20%
1	24000	40000	64000	72%	28%
2
3
4
5
6
7
8
9
10
Total