AAFM Exam GLO_CWM_LVL_1 Topic 6 Question 83 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam

Question #: 83
Topic #: 6

You want to take a trip overseas which costs Rs. 10 lacs. The cost is expected to remain unchanged in nominal terms. You can save annually Rs. 50000 to fulfill the desire. How long will you have to wait if your savings earn an interest rate of 12%?

A10.79 years

B11.00 years

C11.23 years

D10.99 years

Show Suggested Answer

Suggested Answer: A

by Irma at Jul 02, 2024, 03:46 AM

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Quentin

5 months ago

D, 10.99 years. What is this, a game of 'guess the decimal place'? I'm just going to close my eyes and point at the answer.

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Odette

5 months ago

That's a good point. I'll go with C) 11.23 years then.

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Marya

5 months ago

C, 11.23 years. Hey, at least it's not a whole number, that's gotta count for something, right? Keeps you on your toes.

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Elvis

3 months ago

C, 11.23 years. Hey, at least it's not a whole number, that's gotta count for something, right? Keeps you on your toes.

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Renay

3 months ago

D) 10.99 years

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Emmanuel

4 months ago

C) 11.23 years

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Sunshine

4 months ago

B) 11.00 years

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Eden

4 months ago

A) 10.79 years

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Jillian

4 months ago

D) 10.99 years

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Fletcher

4 months ago

C) 11.23 years

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Reid

4 months ago

B) 11.00 years

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Yuette

4 months ago

A) 10.79 years

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Darrin

5 months ago

But if we calculate the compound interest, it might be closer to C) 11.23 years.

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Odette

5 months ago

I believe it's B) 11.00 years.

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Toshia

5 months ago

I'm going with B, 11.00 years. It just feels right, you know? Simplicity is key when it comes to these math problems.

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Kristofer

4 months ago

D) 10.99 years

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Cassi

4 months ago

C) 11.23 years

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Blossom

4 months ago

B) 11.00 years

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Miriam

5 months ago

A) 10.79 years

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Burma

5 months ago

A 10.79 years? That's a bit too specific, don't you think? Looks like someone's been crunching the numbers a bit too hard.

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Twana

4 months ago

B) 11.00 years

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Adolph

5 months ago

A) 10.79 years

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Darrin

5 months ago

I think the answer is A) 10.79 years.

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