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CIMAPRA17-BA1-1 Exam - Topic 1 Question 29 Discussion

A client agrees to invest S100,000 three years from now in a business project, and decides to deposit funds today in a bank account that pays 6 percent compound interest annually.How much does the client need to deposit in order to be able invest $100,000 in three years time?
D) $83,748.43
A) $82,000
B) $83,961.93
C) $119101.6

CIMAPRA17-BA1-1 Exam - Topic 1 Question 29 Discussion

Actual exam question for CIMA's CIMAPRA17-BA1-1 exam
Question #: 29
Topic #: 1
[All CIMAPRA17-BA1-1 Questions]

A client agrees to invest S100,000 three years from now in a business project, and decides to deposit funds today in a bank account that pays 6 percent compound interest annually.

How much does the client need to deposit in order to be able invest $100,000 in three years time?

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Suggested Answer: D

by Carma at May 09, 2022, 05:58 PM

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Timothy
10 months ago
Interesting! I always thought compound interest worked differently.
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Marvel
10 months ago
I thought it would be lower with 6% interest.
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Miriam
11 months ago
Wait, how can it be that much? Seems high.
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Eden
11 months ago
That sounds right, I did the math too!
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Reynalda
11 months ago
You need to deposit about $83,961.93 today.
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Sue
11 months ago
Extreme Programming is an interesting choice, but I'm not sure it fully addresses the need for workflow visualization and WIP limits that the question is asking about. I'll double-check the XP practices just in case.
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Glendora
11 months ago
Okay, I've got a strategy for this. The format block is all about creating dynamic text, so I'm guessing it could be used to merge state text with dynamic values for input or output. That sounds like option D to me.
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Freeman
11 months ago
I'm not totally sure about this one. Option B about not storing backup media offsite also seems like it could be a big problem for high availability. I'll have to review the concepts on that one.
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Jaclyn
11 months ago
I'm feeling confident about this one. The parent widget for TabBar and TabBarView is clearly DefaultTabController, since it's responsible for coordinating the tab switching behavior. I'll select that option and move on.
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