A Person Wishes to Deposit a Total Fo $10,000 in Two

question 66

Essay

A person wishes to deposit a total fo $10,000 in two accounts.The savings account pays yearly interest of 4% and fixed certificates of deposit pay a yearly interest rate of 7%.How much should the person deposit in each account so that he gets a total of $502 interest at the end of the year?

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Definitions:

Selectively Attend

The ability to focus on a specific stimulus while ignoring and dismissing irrelevant or distracting information.

Implicit Associations

The subconscious linking of two concepts or entities in the mind, which can influence attitudes and behavior.

Stereotype

A fixed, generalized idea or image of a particular group of people, often lacking nuance and accuracy.

Availability Heuristic

A quick thinking process where a person leans on the first examples that surface in their thoughts when considering a certain subject, notion, procedure, or judgment.