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AAFM Exam CWM_LEVEL_2 Topic 1 Question 83 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 83
Topic #: 1
[All CWM_LEVEL_2 Questions]

Section C (4 Mark)

Read the senario and answer to the question.

If Mr. Mehta is paying interest rate 12%p.a on his housing loan and 10% p.a. on car loans, in how many months would he pay off his housing loan and car loan?

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Suggested Answer: B

by Arletta at Jul 17, 2024, 07:27 PM

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Kaitlyn
3 months ago
Wow, that's a lot of months to pay off a loan! I hope Mr. Mehta has a good retirement plan in place.
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Curtis
2 months ago
Hopefully he has a solid financial plan for his retirement.
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Lina
2 months ago
I agree, Mr. Mehta must have taken quite a bit of time to pay off both loans.
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Viola
2 months ago
I know, those interest rates can really add up over time.
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Carri
3 months ago
This is a tricky one. I'll need to double-check my calculations, but I'm leaning towards Option C as well.
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Oren
2 months ago
Let's go with Option C then. It seems like the most logical answer.
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Celia
2 months ago
I agree. Option C seems like the most reasonable choice based on the interest rates provided.
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Eileen
2 months ago
That's true. Once we have that, we can figure out how many months it would take to pay off each loan.
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Kimberely
2 months ago
I think the key is to calculate the total amount of interest paid on each loan first.
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Rochell
3 months ago
Option B is way too long for the repayment periods. That can't be right.
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Jade
3 months ago
I also think option A is the most likely answer based on the interest rates.
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Curt
3 months ago
Yeah, I agree. Option B does seem too long for both loans.
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Joni
3 months ago
I think option A seems more reasonable for the repayment periods.
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Eun
4 months ago
I calculated it and I am confident that the answer is D.
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Chi
4 months ago
I'm not sure about this one. The numbers seem a bit high, but I guess it depends on the loan amount and other factors.
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Rickie
4 months ago
I'm leaning towards B, it seems more reasonable to me.
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Aliza
4 months ago
Option C looks like the correct answer to me. The calculations seem to make sense.
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Marsha
2 months ago
I agree, option C looks like the right answer.
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Ty
3 months ago
Yeah, the calculations seem to add up.
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Terrilyn
3 months ago
I think option C is correct.
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Sommer
3 months ago
Yes, option C does seem like the most logical choice.
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Sue
3 months ago
I agree, the calculations seem to add up.
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Stephaine
3 months ago
I think option C is correct.
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Ozell
4 months ago
I disagree, I believe the answer is C.
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Daron
4 months ago
I think the answer is A.
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