AAFM Exam GLO_CWM_LVL_1 Topic 7 Question 92 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam

Question #: 92
Topic #: 7

Mr. Kumar is a 40 year old NRI working abroad for past 5years. He invests Rs. 50, 000/- p.a. for past 5 years and wants to continue until his return to India. He plans to return to India after 10 years from now and enjoy his life back home. Inflation is expected to be 4% for next 30 years and his investment earns 6% interest. His expected life expectancy is 70 years. What would be his corpus at the time of return to India, and what amount he can with draw per month for his household expenses?

ARs. 12,14,279/- and Rs. 6,358

BRs. 11,63,798/- and Rs. 5,845

CRs. 13,12,008/- and Rs. 7,008

DRs. 12,14,279/- and Rs. 9,554

Show Suggested Answer

Suggested Answer: B

by Michael at Sep 19, 2024, 07:47 AM

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Louvenia

2 months ago

But the interest rate is only 6%, so I still think A) is the correct answer.

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Honey

2 months ago

I disagree, I believe the answer is C) Rs. 13,12,008/- and Rs. 7,008.

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Malinda

3 months ago

Haha, good luck to Mr. Kumar trying to enjoy life back home in India with just Rs. 6,358 per month!

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3 months ago

Hmm, this seems straightforward. I'll go with option A, it looks like the most reasonable answer.

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Dona

3 months ago

Yeah, I agree. It seems like the most reasonable answer.

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Candra

3 months ago

I think option A is the best choice.

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Louvenia

3 months ago

I think the answer is A) Rs. 12,14,279/- and Rs. 6,358.

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