Ali is interested in acquiring an apartment which is currently priced at BD 100,000 . Ali has a balance in his saying account 20 th of the current price of the apartment, so he sought a financing arrangement from a local islamic barik (iB) that offered a Diminishing Musshrakah transactional structure for this arrangement. The IB agreed to extend the financing need by Ali with the following terms and conditions: Apartment costi BD 100,000 All Own's 50urce: 20% Tenor: 50 months Number of Units of the IB's ownership in the apartment: 50 Cost per unit: BD1,600 Monthly Rent of the apartment: 1%. All agreed to buy one unit from the bank each month. Calculate the annual rent due to the bank during the second month. You should write your answer like BD

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