Deal of The Day! 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 Exam CWM_LEVEL_2 Topic 7 Question 94 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 94
Topic #: 7
[All CWM_LEVEL_2 Questions]

Section C (4 Mark)

Read the senario and answer to the question.

Mr. Bhatia owns a Maruti Wagonr with a monthly EMI of Rs. 6,312. The above loan will be completely repaid by August 2008. Mr. Bhatia planning to purchase a new car worth of Rs. 15 lakh. For this he has to take a full value loan of the car with 9% interest for 5 years. But his present car is in good condition and life of this car is approximately another 5 years repairs and maintenance cost are minimum. If he postpones his car purchasing plan now and deposit the same EMI outflow required for new car into an SIP with a minimum 15% yield for the next five years, then calculate the fund he can accumulate?

Show Suggested Answer Hide Answer
Suggested Answer: B

by Scarlet at Dec 07, 2024, 04:43 PM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel
Keneth
2 months ago
That's true, Pete. It ultimately depends on Mr. Bhatia's priorities and long-term goals.
upvoted 0 times
...
Pete
2 months ago
But what if Mr. Bhatia really wants a new car? Maybe he should consider other factors besides just financial gain.
upvoted 0 times
...
Lucy
2 months ago
Okay, let's think this through step-by-step. The monthly EMI, the interest rate, the SIP yield - if I can get all of those right, I'm confident I can nail the answer.
upvoted 0 times
...
Casey
2 months ago
Haha, I bet the answer is gonna be something completely unexpected, like Rs. 42.69 lacs. You know, just to mess with us.
upvoted 0 times
Lemuel
1 months ago
D) Rs. 30.47 lacs
upvoted 0 times
...
Colette
2 months ago
C) Rs. 23.49 lacs
upvoted 0 times
...
Theron
2 months ago
B) Rs. 27.58 lacs
upvoted 0 times
...
Novella
2 months ago
A) Rs. 23.66 lacs
upvoted 0 times
...
...
Irving
2 months ago
I agree with you, Keneth. Investing in SIP with a higher yield seems like a better financial decision.
upvoted 0 times
...
Erick
2 months ago
This is a tricky one. I like how the question presents a real-world scenario with multiple factors to consider. It's definitely challenging, but I think I've got it figured out.
upvoted 0 times
Reta
1 months ago
B) Rs. 27.58 lacs
upvoted 0 times
...
Cherrie
2 months ago
A) Rs. 23.66 lacs
upvoted 0 times
...
...
Keneth
2 months ago
I think Mr. Bhatia should postpone buying a new car and invest in SIP.
upvoted 0 times
...
Kerry
2 months ago
Option D looks tempting, but I don't think it's the correct answer. The question seems to be focused on the SIP, and I believe option B is the way to go.
upvoted 0 times
...
Yuette
3 months ago
Hmm, I'm not sure about this one. The scenario has a lot of details, and I'm worried I might have missed something important. I'll have to double-check my calculations.
upvoted 0 times
Tijuana
1 months ago
Buffy: Yes, I got Rs. 27.58 lacs as the answer.
upvoted 0 times
...
Micaela
1 months ago
User 3: So, have you calculated the fund he can accumulate?
upvoted 0 times
...
Buffy
1 months ago
User 2: I think it's 15% for the next five years.
upvoted 0 times
...
Ashanti
2 months ago
User 1: Have you considered the interest rate for the SIP?
upvoted 0 times
...
...
Vallie
3 months ago
I'm leaning towards option B. The monthly EMI of Rs. 6,312 for the existing car loan and the 15% yield on the SIP for the next 5 years seem to add up to a substantial amount.
upvoted 0 times
Lauran
2 months ago
I think option D might be the best choice. The higher amount could provide more financial security in the future.
upvoted 0 times
...
Iluminada
2 months ago
I'm not sure, option A also seems like a viable option. The return on the SIP could really boost the funds.
upvoted 0 times
...
Blondell
2 months ago
I agree, option B does seem like the most logical choice. The monthly EMI can make a big difference in the long run.
upvoted 0 times
...
Luisa
2 months ago
I think option B is a good choice. The SIP with a 15% yield can really help accumulate a significant amount.
upvoted 0 times
...
...

Save Cancel