AAFM Exam CWM_LEVEL_2 Topic 2 Question 56 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 56
Topic #: 2

Section A (1 Mark)

You buy a investment plan by investing Rs. 5000/- per month for first 12years if the investment pays Rs. 5000 for the next 12 years and the rate of interest is 15% per annum compounded monthly. How much amount would you have after 24 years?

A9930225

B9910232

C9802747

D9716362

Show Suggested Answer

Suggested Answer: C

by Arminda at Feb 28, 2023, 07:07 AM

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Martha

10 days ago

I'm not sure, but I think I would go with A) 9930225 as well.

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Adela

12 days ago

I agree with Virgina, because the investment plan has a high rate of interest.

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Aliza

15 days ago

Hmm, let's see... 15% per annum compounded monthly? That's like a financial riddle wrapped in an enigma. I need to dust off my old financial calculator for this one.

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Latosha

17 days ago

Oof, that's a lot of numbers to crunch! I'm going to need a calculator the size of a small country to figure this one out.

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Virgina

20 days ago

I think the answer is A) 9930225.

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