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Investment Decision. Judy has just received $16.001 as an inheritance from her uncle and is considering ways to use the money Judy's car is one

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Investment Decision. Judy has just received $16.001 as an inheritance from her uncle and is considering ways to use the money Judy's car is one year old and her monthly payment is $397 She owes 48 more payments. The amount to pay off the loan is $15.940 Judy will save $3,116 in interest if she pays off her car han now Judy is also considering investing the $16,001 in a certificate of deposit (CO)She is guaranteed a return of 6% on a four-year CD How much would Juty entran the CD? Which of the two alternatives offers the better return? (Note: Ignare any tax effect.) (Hint you need to computo the interest rate on Judy's loan The amount of interest Judy would earn from the CD is $(Round to the nearest dollar) Judy should (Select from the drop down menu.)

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