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How much is the Murabaha receivable payment

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Question - Bank Muamalat provides a financing facility based on the Murabaha principle to Barakah Manufacturing to purchase a special equipment for their factory. The financing amounted to $900,000 at a constant rate of return of 16% per year for a period of 7 years. How much is the Murabaha receivable/principle payment for one year?

Reference no: EM132739769

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