AAFM Exam GLO_CWM_LVL_1 Topic 6 Question 85 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam

Question #: 85
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 Clay at Jul 17, 2024, 07:47 PM

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Brittani

4 months ago

Wait, we're supposed to save Rs. 50,000 a year and earn 12% interest? That's like winning the lottery!

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Carman

4 months ago

Haha, this question is a real brain-teaser! I'm just going to close my eyes and pick one at random.

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Dana

3 months ago

I'll choose C) 11.23 years, just to mix it up.

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Shawnda

3 months ago

I'm not sure, but I'll go with B) 11.00 years.

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Brittani

3 months ago

I think the answer is A) 10.79 years.

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Domonique

5 months ago

I don't know, 11.23 years seems a little too long. I'm going to go with 10.99 years.

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Adolph

5 months ago

Hmm, I'm leaning towards 11.00 years. The math seems to work out better with that one.

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Isaac

3 months ago

I believe it's 10.99 years.

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Lashandra

3 months ago

I'm not sure, I'm leaning towards 11.00 years.

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Terrilyn

3 months ago

I think the answer is 10.79 years.

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Malinda

3 months ago

Yeah, 11.00 years sounds like the right choice.

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Lottie

4 months ago

I agree, the math seems to work out better with that option.

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Gearldine

4 months ago

I think it will take 11.00 years.

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Solange

5 months ago

I'm pretty sure the answer is 10.79 years, that's the one that makes the most sense to me.

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Azzie

4 months ago

B) 11.00 years

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Theola

4 months ago

A) 10.79 years

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Brent

5 months ago

I'm not sure, but I think it might be D) 10.99 years because the interest rate is quite high.

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Ettie

5 months ago

I believe it's C) 11.23 years because the interest rate will help me reach my goal faster.

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Gilberto

5 months ago

I think the answer is A) 10.79 years.

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