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AAFM Exam GLO_CWM_LVL_1 Topic 5 Question 78 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam

Question #: 78
Topic #: 5

[All GLO_CWM_LVL_1 Questions]

Roger deposits Rs. 10,00,000 in a bank account on 1st March 2005 and another Rs. 5,00,000 on 1st March 2011. He wants to withdraw all of this money with interest on 1st March 2015. If the account pays ROI of 11% P.A. compounded quarterly what amount can he withdraw from this account?

A2959874

B771755

C3731629

D3598455

Show Suggested Answer

Suggested Answer: C

by Maurine at Apr 27, 2024, 10:48 PM

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Ty

5 months ago

I calculated it too and I agree with Option D seems accurate to me.

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Darrin

5 months ago

I feel like we should divide the question into parts and solve. First from 2005, then from 2011. But I haven't done it.

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Kimberlie

5 months ago

I was leaning towards option C, 3731629. It's so hard to calculate compounded interest!

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Danica

5 months ago

I did the math quickly, I think option D is correct, 3598455.

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Zita

6 months ago

Yeah, it's tricky. I think the answer is somewhere around 35 lakh.

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Martina

7 months ago

I'm not so sure about this one. Compounded quarterly with 11% interest... It's confusing.

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