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Which of the two alternatives offers the better? return

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Judy has just received ?$14,676 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 ?$351. She owes 48 more payments. The amount to pay off the loan is ?$14,640. Judy will save ?$2,208 in interest if she pays off her car loan now. Judy is also considering investing the $14,676 in a certificate of deposit? (CD). She is guaranteed a return of 3% on a? four-year CD. How much would Judy earn from the? CD? Which of the two alternatives offers the better? return? ?(Note?: Ignore any tax? effect.) ?(?Hint: you need to compute the interest rate on? Judy's loan.)

Reference no: EM132473553

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