AAFM Exam CWM_LEVEL_2 Topic 7 Question 94 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 94
Topic #: 7

Section C (4 Mark)

Read the senario and answer to the question.

Mr. Bhatia owns a Maruti Wagonr with a monthly EMI of Rs. 6,312. The above loan will be completely repaid by August 2008. Mr. Bhatia planning to purchase a new car worth of Rs. 15 lakh. For this he has to take a full value loan of the car with 9% interest for 5 years. But his present car is in good condition and life of this car is approximately another 5 years repairs and maintenance cost are minimum. If he postpones his car purchasing plan now and deposit the same EMI outflow required for new car into an SIP with a minimum 15% yield for the next five years, then calculate the fund he can accumulate?

ARs. 23.66 lacs

BRs. 27.58 lacs

CRs. 23.49 lacs

DRs. 30.47 lacs

Show Suggested Answer

Suggested Answer: B

by Scarlet at Dec 07, 2024, 04:43 PM

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Yuette

22 hours ago

Hmm, I'm not sure about this one. The scenario has a lot of details, and I'm worried I might have missed something important. I'll have to double-check my calculations.

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Vallie

4 days ago

I'm leaning towards option B. The monthly EMI of Rs. 6,312 for the existing car loan and the 15% yield on the SIP for the next 5 years seem to add up to a substantial amount.

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