A Man Invests a Total Of $\$ 21,000$ In Two Accounts, One Paying

question 67

Essay

A man invests a total of $\$ 21,000$ in two accounts, one paying $5.5 \%$ simple interest per year and the other paying $8.5 \%$ simple interest per year. His annual interest from both accounts is $\$ 1,280$ . How much did he invest at each rate?

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Definitions:

Standard Deviation

A statistic that measures the dispersion or spread of a set of data points around their mean.

Level Of Risk

A measure of the potential for loss in an investment or business situation.

Variance

Variance is a statistical measurement that describes the spread of numbers in a data set, indicating how much the numbers differ from the average value.

Average Return

The mean amount of profit or loss generated by an investment over a given period.