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AAFM Exam GLO_CWM_LVL_1 Topic 7 Question 92 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 92
Topic #: 7
[All GLO_CWM_LVL_1 Questions]

Mr. Kumar is a 40 year old NRI working abroad for past 5years. He invests Rs. 50, 000/- p.a. for past 5 years and wants to continue until his return to India. He plans to return to India after 10 years from now and enjoy his life back home. Inflation is expected to be 4% for next 30 years and his investment earns 6% interest. His expected life expectancy is 70 years. What would be his corpus at the time of return to India, and what amount he can with draw per month for his household expenses?

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Suggested Answer: B

by Michael at Sep 19, 2024, 07:47 AM

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Louvenia
8 days ago
But the interest rate is only 6%, so I still think A) is the correct answer.
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Honey
10 days ago
I disagree, I believe the answer is C) Rs. 13,12,008/- and Rs. 7,008.
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Malinda
19 days ago
Haha, good luck to Mr. Kumar trying to enjoy life back home in India with just Rs. 6,358 per month!
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Brynn
23 days ago
Wait, did they factor in the 4% inflation rate? I'm not so sure about option A now.
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Mari
5 days ago
Yes, they did factor in the 4% inflation rate. Option A is still the correct answer.
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Tashia
25 days ago
Hmm, this seems straightforward. I'll go with option A, it looks like the most reasonable answer.
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Dona
19 days ago
User 2: Yeah, I agree. It seems like the most reasonable answer.
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Candra
22 days ago
User 1: I think option A is the best choice.
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Louvenia
25 days ago
I think the answer is A) Rs. 12,14,279/- and Rs. 6,358.
upvoted 0 times
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