AAFM Exam CWM_LEVEL_2 Topic 7 Question 96 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 96
Topic #: 7

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?

ARs. 23.66 lacs

BRs. 27.58 lacs

CRs. 23.49 lacs

DRs. 30.47 lacs

Show Suggested Answer

Suggested Answer: B

by Patria at Jan 26, 2025, 03:07 PM

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Elise

2 days ago

But what if the car needs major repairs in the next 5 years?

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Devorah

9 days ago

C) Rs. 23.49 lacs is the way to go. I'm a numbers guy, and this one just screams 'correct answer' to me. Now, where's the lunch buffet around here?

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Maryanne

17 days ago

A) Rs. 23.66 lacs seems like the obvious choice here. I mean, who needs a fancy new car when you can just keep driving the old one, am I right? *winks*

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