AAFM CWM_LEVEL_2 Exam - Topic 3 Question 44 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 44
Topic #: 3

Section C (4 Mark)

Read the senario and answer to the question.

Vinay wants to have 80% of the desired retirement corpus from his monthly savings from now itself. If he expects to earn 12% p.a. on these savings, how much amount should the couple save at the end of each month to achieve this target?

ARs. 26422

BRs. 36548

CRs. 17873

DNone of the above

Show Suggested Answer

Suggested Answer: C

by Yuki at Jun 26, 2022, 12:35 PM

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Terry

6 months ago

I’d go with Rs. 17,873, seems more realistic to me.

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Rebeca

6 months ago

I think Rs. 36,548 is a bit much, but who knows?

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Shawna

6 months ago

Wait, are you sure about that 12% return? Seems high!

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Kanisha

6 months ago

I totally agree, that's a solid plan for retirement!

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Jeanice

6 months ago

Looks like he needs to save around Rs. 26,422 monthly!

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Aja

7 months ago

I’m leaning towards Rs. 26422, but I really need to double-check my calculations to be sure.

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Lisbeth

7 months ago

I feel like Rs. 36548 sounds too high based on what we practiced, but I can't recall the exact calculations we did.

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Alana

7 months ago

I remember we did a similar question about calculating monthly savings for retirement, but I’m not sure about the exact formula for 80% of the corpus.

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Flo

7 months ago

I think we need to use the future value of annuity formula here, but I’m a bit confused about how to apply the interest rate correctly.

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Aleta

7 months ago

Hmm, I'm a little unsure about this one. The options seem a bit technical, and I'm not totally familiar with all the cloud computing terminology. I'll have to think it through carefully.

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Raymon

7 months ago

Hmm, I'm a little unsure about this one. The options don't seem to clearly match what I know about unsuccessful teams. I'll have to think it through step-by-step.

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Ashton

7 months ago

I remember something about partners being able to leave at any time if the agreement doesn't specify otherwise. So, maybe A is correct?

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