New Year Sale 2026! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

AAFM CWM_LEVEL_2 Exam - Topic 7 Question 22 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 22
Topic #: 7
[All CWM_LEVEL_2 Questions]

Section C (4 Mark)

Read the senario and answer to the question.

Harish wants to go abroad on a family vacation tour in January next year. A tour operator is offering him a package in which he has to pay only Rs. 20,000 on 1st January, 2011 which is 10% upfront amount, while the remaining amount is to be repaid in 36 EMIs of Rs. 7,500 each, first EMI payable on 1st February, 2011. Harish wants to know the annual effective rate of interest which he may incur in subscribing to this offer.

Show Suggested Answer Hide Answer
Suggested Answer: C

by Sylvie at May 05, 2022, 06:23 PM

Limited Time Offer

25%

Off

Get Premium CWM_LEVEL_2 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
Odelia
4 months ago
24.10% seems reasonable for a vacation loan.
upvoted 0 times
...
Dannie
5 months ago
Definitely feels like a trap!
upvoted 0 times
...
Erasmo
5 months ago
Are we sure about those calculations?
upvoted 0 times
...
Joesph
5 months ago
That's a crazy interest rate!
upvoted 0 times
...
Alyssa
5 months ago
The total repayment is Rs. 2,80,000!
upvoted 0 times
...
Curt
5 months ago
I've got this! Cost leadership, human resource management, and organizational culture are definitely the three elements that can give a company a competitive edge.
upvoted 0 times
...
Melita
5 months ago
Remember: 10% upfront implies total price is Rs 2,00,000; the remaining Rs 1,80,000 is to be repaid via EMI.
upvoted 0 times
...

Save Cancel