AAFM Exam CWM_LEVEL_2 Topic 6 Question 78 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 78
Topic #: 6

Section C (4 Mark)

Read the senario and answer to the question.

If Mr. Mehta is paying interest rate 12%p.a on his housing loan and 10% p.a. on car loans, in how many months would he pay off his housing loan and car loan?

AHouse loan-321 month, Car Loan-129 months

BHouse loan-540 month, Car Loan-318 months

CHouse loan-342 month, Car Loan-249 months

DHouse loan-432 month, Car Loan-429 months

Show Suggested Answer

Suggested Answer: B

by Isreal at May 20, 2024, 12:54 AM

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Nikita

6 months ago

I don't know about you, but I'd be looking for a new car if I had to pay that off in over 20 years. That's just painful.

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Floyd

6 months ago

Wait, did they really give us the option to pay off the house loan in like 27 years? That's just cruel.

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Veda

5 months ago

C) House loan-342 month, Car Loan-249 months

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Freeman

5 months ago

B) House loan-540 month, Car Loan-318 months

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Raul

6 months ago

A) House loan-321 month, Car Loan-129 months

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Keneth

6 months ago

Oof, that's a lot of months to pay off those loans! I hope Mr. Mehta has a really long lifespan to see it through.

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Casie

5 months ago

User2

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Vashti

6 months ago

Hopefully Mr. Mehta has a good plan in place to tackle those loans.

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Michel

6 months ago

User1

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Nieves

6 months ago

I know, it's going to take forever to pay off both loans.

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Shonda

6 months ago

Yeah, those interest rates are no joke.

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Carey

6 months ago

B) House loan-540 month, Car Loan-318 months

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Val

6 months ago

A) House loan-321 month, Car Loan-129 months

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