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Unformatted text preview: $300/month, with 10 more monthly payments to make until it is paid off. Robin, also, has rent of $500/month (shared with a roommate) and allocates $250 bi-weekly towards gas, food, and miscellaneous expenses. Robin has two credit cards with a $1,500 balance on one at an 18% interest rate and owes $2,300 on the other at a 20% rate. He has a savings account balance of $1,600 that yields a 2% interest rate. He has a checking account (no interest) with a balance of $320. Robin wants to purchase his first condo ($88,000) with a monthly mortgage of $950 (8% interest rate and includes taxes) with 3% down. What financial advance would you give Robin to help save money to purchase the condo? In what ways, if any, can Robin manage his money better?...
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