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AAFM CWM_LEVEL_2 Exam - Topic 3 Question 44 Discussion

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?
C) Rs. 17873
A) Rs. 26422
B) Rs. 36548
D) None of the above

AAFM CWM_LEVEL_2 Exam - Topic 3 Question 44 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 44
Topic #: 3
[All CWM_LEVEL_2 Questions]

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?

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Suggested Answer: C

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

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Terry
10 months ago
I’d go with Rs. 17,873, seems more realistic to me.
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Rebeca
10 months ago
I think Rs. 36,548 is a bit much, but who knows?
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Shawna
11 months ago
Wait, are you sure about that 12% return? Seems high!
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Kanisha
11 months ago
I totally agree, that's a solid plan for retirement!
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Jeanice
11 months ago
Looks like he needs to save around Rs. 26,422 monthly!
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Aja
11 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
11 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
11 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
11 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
11 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
11 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
12 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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