Bank Sohar provides a financing facility based on murabahah to the Purchase Orderer principles to Ahmad for the purpose of house purchase. The financing is amounting to OR 113000 at a constant rate of return 3.5 % for a period of 7 years. At year 0 the unearned income would be credit by:
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Q: Bank Sohar provides a financing facility based on murabahah to the Purchase Orderer principles to…
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- Bank Sohar provides a financing facility based on murabahah to the Purchase Orderer principles to Ahmad for the purpose of house purchase. The financing is amounting to OR 43000 at a constant rate of return 7% for a period of 9 years. Calculate the annual installment payment.Bank Sohar provides a financing facility based onmurabahah to the Purchase Orderer principles toAhmad for the purpose of house purchase.The financing is amounting to OR 55000 at aconstant rate of return 3% for a period of 8 years.Calculate the annual installmentBank Sohar provides a financing facility based onmurabahah to the Purchase Orderer principles toAhmad for the purpose of house purchase.The financing is amounting to OR 55000 at aconstant rate of return 3% for a period of 8 years.Calculate the annual installment payment.
- Bank Meethaq provides a financing facility basedon murabahah to the Purchase Orderer principlesto Ahmad for the purpose of house purchase.The financing is amounting to OR 44000 at aconstant rate of return 6% for a period of 3 years.Calculate the first year balance of BBA (bai'bithaman ajil ) financingBank Meethaq provides a financing facility based on murabahah to the Purchase Orderer principles to Ahmad for the purpose of house purchase. The financing is amounting to OR 58000 at a constant rate of return 7% for a period of 4 years.Calculate the second year balance of BBA (bai’ bithaman ajil ) financingA local moving service recently purchased a van be securing a loanwith semannual payments of $3200 per semiannual period for 7 years at 12% per year compuonded semiannually. What ws the purchase price of this van?(round your answer to the nearest cent)
- Simple Simon's Bakery purchases supplies on terms of 1.5/10, net 30. If Simple Simon's chooses to take the discount offered, it must obtain a bank loan to meet its short-term financing needs. A local bank has quoted Simple Simon's owner an interest rate of 10.9% on borrowed funds. Should Simple Simon's enter the loan agreement with the bank and begin taking the discount? (Hint: Use 365 days for a year.)In financing a new shopping center, the owner receives a loan of P1M at the beginning of each 6 months for four years. He agrees to pay all accumulated liability with interest rate of 8% compounded semi-annually by a single payment at the end of 6 years. Find his payment. Show formula and solutionsOn 1st July 2020 Al Khareef flour mills bought two wheat grinding machines for RO 18000. The whole amount was Financed by Bank Nizwa for monthly instalments of RO 600. On 30 December 2020 the company sold one of the machine for RO 7200 and paid the Full amount to Bank Nizwa to be adjusted with the loan. How much amount will be shown under current liabilities on 31 December 2020. a. RO 18000 b. RO 14400 c. RO 9000 d. RO 7200
- A new homeowner is purchasing a living room set for $2,590 and must decide between two financing offers.Offer 1: $200 down payment, 24.90% interest rate, compounded monthly, for 3 years, with no payments due for 6 months and then fixed payments of $121.96 for the remainder of the loan termOffer 2: $450 down payment, 22.90% interest rate, compounded monthly, for 3 years, with no payments due for 12 months and then fixed payments of $140.48 for the remainder of the loan termPart A: What is the total cost of offer 1?Part B: What is the total cost of offer 2? Part C: Which financing offer should the new homeowner choose?A furniture company allows customers to purchase household furnishings with an in-store loan, pay with cash or a credit card, or Rent-To-Own with a lease agreement. A customer chooses furniture worth $3,225.00 including tax and chooses to Rent-To-Own. Rent to Own Furniture Warehouse No down payment is required. The monthly lease payment is $156.99 for 2 years. Calculate the total cost to own the furniture using the Rent-To-Own option. What is the amount of the finance charge on this purchase? What simple interest percentage rate is this finance charge? Recall:Find the present value of the following annuities. Assume the discounting occurs once a year A. The customer agreed to pay rent at the end of each year and the landlord charges $21,600 per year . The required rate of return of the landlord is 6.85%. The rent contract will last for 7 years Required: Find the present value of this agreement for the landlord B. A customer approached a car sales agent and makes a car lease agreement for 6 years. The cash flow [annual] is $6000. The agent charges 7.2% interest on such contract Required: How much will be the present value of such an agreement ?