AAFM Exam GLO_CWM_LVL_1 Topic 6 Question 85 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam

Question #: 85
Topic #: 6

You want to take a trip overseas which costs Rs. 10 lacs. The cost is expected to remain unchanged in nominal terms. You can save annually Rs. 50000 to fulfill the desire. How long will you have to wait if your savings earn an interest rate of 12%?

A10.79 years

B11.00 years

C11.23 years

D10.99 years

Show Suggested Answer

Suggested Answer: A

by Clay at Jul 17, 2024, 07:47 PM

Limited Time Offer

25%

Off

Get Premium GLO_CWM_LVL_1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Brittani

21 days ago

Wait, we're supposed to save Rs. 50,000 a year and earn 12% interest? That's like winning the lottery!

upvoted 0 times

...

Carman

22 days ago

Haha, this question is a real brain-teaser! I'm just going to close my eyes and pick one at random.

upvoted 0 times

...

Domonique

1 months ago

I don't know, 11.23 years seems a little too long. I'm going to go with 10.99 years.

upvoted 0 times

...

Adolph

1 months ago

Hmm, I'm leaning towards 11.00 years. The math seems to work out better with that one.

upvoted 0 times

Lottie

6 days ago

User 2: I agree, the math seems to work out better with that option.

upvoted 0 times

...

Gearldine

10 days ago

User 1: I think it will take 11.00 years.

upvoted 0 times

...

2 months ago

I think the answer is A) 10.79 years.

upvoted 0 times

...