AAFM Chartered Wealth Manager (CWM) Global Examination GLO_CWM_LVL_1 Question # 129 Topic 13 Discussion

AAFM Chartered Wealth Manager (CWM) Global Examination GLO_CWM_LVL_1 Question # 129 Topic 13 Discussion

GLO_CWM_LVL_1 Exam Topic 13 Question 129 Discussion:
Question #: 129
Topic #: 13

Amit an industrialist wants to buy a flat in a housing society presently costing Rs. 35,00,000/- after 6 years. The cost of the house is expected to increase by 15% pea for the first 3 years and by 10% in the remaining years. Amit wants to start a SIP with monthly contributions in Birla Front Line Equity Mutual Fund to pay for the down payment of the house which would be 25% of the house value at that time. You as a CWM expect that the fund would give ROI of 14% p.a. compounded monthly in the next 10 years. Please advise Amit the monthly SIP amount starting at the beginning of every month for the next 6 years to fulfill his goal of buying the Flat he desires.


A.

63422.72


B.

65185.55


C.

16537.56


D.

15883.32


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