In the year 2020, Ummah Bank earned annual profit attributable to Unrestricted Mudharaba account before...
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In the year 2020, Ummah Bank earned annual profit attributable to Unrestricted Mudharaba account before distribution of profit to the bank amounting to $10,000,000. Depositors profit sharing ratio is 80% and Bank is 20%. The following is information pertaining to deposit types, average balance and the weight used for Mudharaba deposit account for the bank in the year 2020 Investments tenure Weights Average balance $ 12,000,000 0.65 6 months and less 20,000,000 0.80 9 months and less 12 months and less 30,000,000 0.95 15,000,000 1.15 More than 12 months Investors/Depositors: Zayd $200,000 investment placement for 9 months Isaiah $350,000 investment placement for more than 12 months Ezekiel $900,000 investment placement for 6 months How much is the returns for Ezekiel who invested $900,000 for 6 months? 60.720 76290 7920
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