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Answer the following three questions. 1. On November 1, 2020, Mohammed paid BD30,000 as Hamish Jediah to Bank Aldewan for a house that is going

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Answer the following three questions. 1. On November 1, 2020, Mohammed paid BD30,000 as Hamish Jediah to Bank Aldewan for a house that is going to be financed using a murabaha financing mode. Two months later Mohammed and the Bank signed the contract with following terms: the price at which the bank bought the house was BD620,000, the markup is 4% annually, and the sale price is going to be paid in 12 annual installments starting December 31, 2021. The bank's policy is to recognize the profit evenly over the tenor of the contract. The bank will charge a penalty of 3% per year for late payment, while in case of early payment the client is entitled for Ibra' from the remaining unearned income. The bank follows CBB's regulations regarding prepayment fees, which is BD200 Required Show your calculations and write your final answers in the boxes following each requirement a. Calculate the annual installment Answer b. Calculate the unearned income at the time of signing the contract. Answer c. Determine the annual profit to be shown in the bank's income statement

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