Financial Decision. You have a $7,000 balance on your car loan at 11% interest. Your favorite aunt has just left you $10,000 in her will. You decided to pay off the car loan and invest the difference. Now you no longer have a $350 per month car payment. Suggest some ways you might use these additional funds.
Answer: any of the above (put an additional $350 per month toward a retirement plan… use the $350 to pay off a personal loan…. Invest the $350 per month in mutual funds
