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Time left 1:57:51 All is interested in acquiring an apartment which is currently priced at BD100.000. Ali has a balance in his saving account 20%

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Time left 1:57:51 All is interested in acquiring an apartment which is currently priced at BD100.000. Ali has a balance in his saving account 20% of the current price of the apartment so he sought a financing arrangement from a local Islamic bank (B) that offered a Diminishing Musshrakah transactional structure for this arrangement. The IB agreed to extend the financing need by All with the following terms and conditions: Apartment cost: BD 100,000 All Own's source: 20% Tenor: 50 months Number of Units of the IB's ownership in the apartment: 50 Cost per unit: BD 1.600 Monthly Rent of the apartment: 1% All agreed to buy one unit from the bank each month. Calculate the annual rent due to the bank during the second month. You should write your answer like BDX.XXX

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