Question

In: Economics

Question You have wealth that was inherited from your own parents and grandparents. You want to...

Question

You have wealth that was inherited from your own parents and grandparents. You want to help people with the wealth. At the same time, you also want to acquire profit as an income generation for you and your family’s daily survival and future saving. You do not agree with the concept of interest in the current conventional finance and you see Islamic ethics as a way of life.

You intend to open your own company. Discuss how can you achieve the objectives stated in the above statements based on any product (single or combination) within the context of Islamic finance and banking.

Solutions

Expert Solution

Rahul Sunny answered 2 years ago
Next > < Previous

Related Solutions

Question You have wealth that was inherited from your own parents and grandparents. You want to...
Question You have wealth that was inherited from your own parents and grandparents. You want to help people with the wealth. At the same time, you also want to acquire profit as an income generation for you and your family’s daily survival and future saving. You do not agree with the concept of interest in the current conventional finance and you see Islamic ethics as a way of life. You intend to open your own company. Discuss how can you...
Describe your own grandparents and how you want to grandparent. 1. Describe your maternal grandparents. How...
Describe your own grandparents and how you want to grandparent. 1. Describe your maternal grandparents. How did ther grandparent? List the dimensions of meaning you think your grandparent assigned to their role ( centrality, valued elder, indulgence, re involvement, immorality) 2. Describe your paternal grandparents. How did they grandparent? List the dimensions of meaning you think your grandparent assigned to their role ( centrality, valued elder, indulgence, re involvement, immorality) 3. What type of grandparent will you be? Describe the...
Assume that you inherited $100,000 from your grandparents, today. You have exactly 20 years to retire...
Assume that you inherited $100,000 from your grandparents, today. You have exactly 20 years to retire and you decided to put the entire amount into 20 years, 4% annual interest annuity. A) Assuming you did not deposit any additional amount into this account, compute your account balance by the time you retire, using the annuity calculator. Then, compute the same using a scientific calculator (not a financial one) using the appropriate formulas from the textbook and show your calculations. (Make...
You have received $100 from your parents to spend, but they want you to spend equal...
You have received $100 from your parents to spend, but they want you to spend equal amounts of it (labeled X) at the start of the next month (time period or t1) and at the start of the second month (t2). How much money can you spend each time (X)? Assume a monthly interest rate of 10%. HINT:- Use the compound interest formulae to spell out the relation between X occurring at t1 and t2 and some P1 and some...
How would you advise your parents or grandparents regarding their asset allocation?
How would you advise your parents or grandparents regarding their asset allocation?
Sophia inherits inherited money from her grandparents. She inherits $100,000 from her grandparents, today. She has...
Sophia inherits inherited money from her grandparents. She inherits $100,000 from her grandparents, today. She has exactly 20 years to retire and she decided to put the entire amount into 20 years, 4% annual interest annuity. A) Assume that she did not deposit any additional amount into this account, compute your account balance by the time she retires. Please compute the problem using a scientific calculator (not a financial one) using the appropriate formulas and show your calculations step by...
5. You want to retire in ten years and you currently have no wealth to your...
5. You want to retire in ten years and you currently have no wealth to your name. You estimate that you’ll will need $1.8M at your retirement date in order to live out the remainder of your life comfortably. You plan to make 10 equal annual payments into an account at the end of each year from now until your retire. If you can earn 8%/year, compounded annually, how much must you invest at the end of each year for...
Your grandparents have been left a substantial amount of money and want to invest in a...
Your grandparents have been left a substantial amount of money and want to invest in a company. Your grandfather trusts you to make a recommendation, but he also wants to see the reasoning behind your choice. You have an idea of which company to choose and you decide to prepare 3 sets of documents for your grandparents to consider: business analysis, combined income and cash flow statement, and trend analysis. Business Analysis Select a public company that trades on either...
1.  For answering the question below, you can use your own home, your parents’ or a friend’s...
1.  For answering the question below, you can use your own home, your parents’ or a friend’s home, or just imagine your dream first home and location. Your homeowners policy is about to be renewed.  It is written to cover your dwelling for its original construction cost.  The policy is a Homeowners form HO-3 and is standard in all respects.  The coverages are all standard percentages, and there are no endorsements or modifications to the policy.  What changes to this basic contract should you consider?...
You have inherited an acre of freehold and want to earn income by investing in a...
You have inherited an acre of freehold and want to earn income by investing in a project to be set up on that land. Assume that your required return is 12 percent and tax rate is 30 percent. Required: a. Identify at least 3 different projects that you can set up on that land. b. Estimate initial investment required for each project identified above. c. Estimate relevant cash flows (income and expenses) and apply relevant formulas to calculate Present Value/...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT