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AAFM Exam CWM_LEVEL_2 Topic 6 Question 78 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 78
Topic #: 6
[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 Isreal at May 20, 2024, 12:54 AM

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Nikita
6 months ago
I don't know about you, but I'd be looking for a new car if I had to pay that off in over 20 years. That's just painful.
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Floyd
6 months ago
Wait, did they really give us the option to pay off the house loan in like 27 years? That's just cruel.
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Veda
6 months ago
C) House loan-342 month, Car Loan-249 months
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Freeman
6 months ago
B) House loan-540 month, Car Loan-318 months
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Raul
6 months ago
A) House loan-321 month, Car Loan-129 months
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Keneth
7 months ago
Oof, that's a lot of months to pay off those loans! I hope Mr. Mehta has a really long lifespan to see it through.
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Casie
6 months ago
User2
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Vashti
6 months ago
Hopefully Mr. Mehta has a good plan in place to tackle those loans.
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Michel
6 months ago
User1
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Nieves
6 months ago
I know, it's going to take forever to pay off both loans.
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Shonda
6 months ago
Yeah, those interest rates are no joke.
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Carey
6 months ago
B) House loan-540 month, Car Loan-318 months
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Val
6 months ago
A) House loan-321 month, Car Loan-129 months
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