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Investment Decision. Judy has just received 513.434 as an inhertance 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 513.434 as an inhertance from her uncle and is considering ways to use the money Judy's car is one yeac old, and her monthly payment is 5321. she owes 48 more payments. The amount to pay off the loan is $13,390. Judy will save $2,048 in intorest it she pays off her car loan now. Judy is also considering investing the $13,434 in a certificate of deposit (CD). She is guaranteed a return of 5% on a four-yoar CD. How much would dudy earn from the CD? Which of the two ahernatives offers the better return? (Notes lgnore any tax effect) (Hint: you need to compute the interest rate on Judy's loan.) The amount of interest Judy would earn from the CD is 5 (Round to the nearest dollat)

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