Interest & Mixture

Question

$23,585 is invested, part at 14% and the rest at 8%. If the interest earned from the amount invested at 14% exceeds the interest earned from the amount invested at 8% by $⁢757.16, how much is invested at each rate? (Round to two decimal places if necessary.)

Answer 1

.08E + 757.16= F

E + F = 23,585

F = 23585-E

F =757.16 + .08E

.08E + 757.16 = 23,585 -E

1.08E = 24,342.16

E = 24,342.16/1.08 = $22,539.04 invested at 8%

F = 23,585-22,539.04 = $1,045.96 invested at 14%