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AAFM Exam CWM_LEVEL_2 Topic 2 Question 81 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 81
Topic #: 2
[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 Daren at Jul 02, 2024, 08:35 PM

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Lenna
2 months ago
Ah, the good old 'pay off your loans in the afterlife' strategy. I guess Mr. Mehta is playing the long game here.
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Yvette
29 days ago
D) House loan-432 month, Car Loan-429 months
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Tyra
1 months ago
I hope Mr. Mehta has a good plan to pay off those loans.
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Ira
1 months ago
C) House loan-342 month, Car Loan-249 months
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Mozell
1 months ago
Mr. Mehta must have taken out some big loans to be paying for that long.
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Beckie
1 months ago
B) House loan-540 month, Car Loan-318 months
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Mirta
1 months ago
That's a long time to be paying off loans.
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Bettyann
2 months ago
A) House loan-321 month, Car Loan-129 months
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Cecily
3 months ago
Okay, let's see here... 342 months for the house loan and 249 months for the car loan. That's a whole lot of payments.
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Carey
23 days ago
I wonder if there's a way to pay them off sooner.
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Gail
24 days ago
I know, it seems like forever to pay off both loans.
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Lindy
26 days ago
That's a long time to be making payments.
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Jamal
1 months ago
Mr. Mehta must have a lot of patience to stick with it for so many months.
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Kenda
1 months ago
I know, it seems like it will take forever to pay off both loans.
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Edgar
2 months ago
That's a long time to be making payments.
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Rolland
3 months ago
That's true. Maybe we should calculate the total interest paid for each loan first.
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Thaddeus
3 months ago
But the interest rates are different for the two loans.
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Rolland
3 months ago
No, I believe it's C.
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Thaddeus
3 months ago
I think the answer is A.
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Tarra
3 months ago
Hmm, 540 months for the house loan? That's like, almost 50 years! I hope Mr. Mehta is a really patient guy.
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Karma
2 months ago
User 4: He must be really patient to wait that long.
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Elly
2 months ago
User 3: Maybe Mr. Mehta got a really big loan.
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Kenneth
3 months ago
User 2: I know, that's almost 50 years!
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Frank
3 months ago
User 1: Yeah, 540 months does seem like a long time.
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Reita
3 months ago
Wow, that's a lot of months to pay off those loans! I wonder if Mr. Mehta is planning on living in his house for the rest of his life.
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Tiffiny
2 months ago
User 2: I know, it's important to make sure you're getting the best deal before taking out a loan.
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Julie
2 months ago
User 1: Yeah, those interest rates can really add up over time.
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