Financial decision you have a 7000 balance on your car loan, Ask an Expert

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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 can put the money in a money market account at your bank and pay off your car loan, or you can invest the money in mutual funds. What factors must you consider in making your decision?

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