SOLUTION: $9,983 is invested, part at 10% and the rest at 8% . If the interest earned from the amount invested at 10% exceeds the interest earned from the amount invested at 8% by

Question 958563: $9,983
is invested, part at
10%
and the rest at
8%
.
If the interest earned from the amount invested at
10%
exceeds the interest earned from the amount invested at
8%
by
$631.64
, how much is invested at each rate? (Round to two decimal places if necessary.)
Answer by macston(5194) (Show Source): You can put this solution on YOUR website!
NOTE: I personally will no longer respond to questions spread down the page.
They are difficult to read, and take time that could be better devoted to the questions of students who enter them properly.
.
T=amount invested at 10%; E=amount invested at 8%
T+E=$9983
T=$9983-E
0.10T-0.08E=$631.34 Substitute for T.
0.10($9983-E)-0.08E=$631.34
$998.30-0.10E-0.08E=$631.34 Subtract $998.30 from each side.
-0.18E=-$366.96 Divide each side by -0.18
E=$2038.67 ANSWER 1: The amount invested at 8% was $2037.67
T=$9983-E=$9983-$2038.67=$7944.33 ANSWER 2: Amount invested at 10% was $7944.33
CHECK:
0.10T-0.08E=$631.34
0.10($7944.33)-0.08($2038.67)=$631.34
$794.43-$163.09=$631.34
$631.34=$631.34
.
NOTE: I personally will no longer respond to questions entered spread down the page. They are difficult to read, and take time that could be better devoted to the questions of students who enter them properly.
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