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AAFM Exam CWM_LEVEL_2 Topic 1 Question 63 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 63
Topic #: 1
[All CWM_LEVEL_2 Questions]

Section C (4 Mark)

Read the senario and answer to the question.

Pallavi's marriage is expected by the end of December, 2010 with an expected present cost of Rs. 24,00,000. He is expected to realize from his Tatanagar Flat 18, 00,000 by that time. Calculate what additional amount is required for his daughter's marriage. With 8% pa. risk free rate compounding monthly what amount he has to save per month (BEGIN) in a debt fund?

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Suggested Answer: B

by Jess at Aug 09, 2023, 10:43 AM

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Willodean
7 days ago
Hmm, this is tricky. I need to calculate the additional amount required, and then figure out the monthly savings needed to cover it. Let me think this through carefully.
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Carman
13 days ago
I see your point, but I still think A) is the correct answer because of the compounding monthly interest rate.
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Chauncey
16 days ago
I disagree, I believe the answer is C) Rs. 4,12,245 Rs. 8,615.
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Carman
17 days ago
I think the answer is A) Rs. 2,27,367 Rs. 7,663.
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