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You applied to an Islamic Bank for financing a 6 0 0 0 0 0 QR apartment using Finance Lease ( Ijara muntahia bi atmleek

You applied to an Islamic Bank for financing a 600000 QR apartment using Finance Lease (Ijara muntahia bi atmleek).
The bank accepted and requested from you a 40% down payment (Hamish Jiddiyah) from the cost of the apartment.
The bank leased the apartment to you for 1300 QR monthly. The monthly payment towards the Banks finance is 2980 QR. The last installment will be used to close the balance.
(Note : If the duration is 60.4 months, for instance, the bank would close the balance on the 60th month. Profit will be calculated only for 60 months. )
Find the following:
The amount of the banks finance
The down payment
The monthly installment paid
The duration to acquire the ownership of the apartment (Months)
The banks profit
The amount of the last installment.
The Banks annual rate of return

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