SOLUTION: $5,581 is invested, part at 15% and the rest at 6%. If the interest earned from the amount invested at 15% exceeds the interest earned from the amount invested at 6% by $261.54, ho

Algebra ->  Coordinate Systems and Linear Equations  -> Lessons -> SOLUTION: $5,581 is invested, part at 15% and the rest at 6%. If the interest earned from the amount invested at 15% exceeds the interest earned from the amount invested at 6% by $261.54, ho      Log On


   

Question 1140655: $5,581 is invested, part at 15% and the rest at 6%. If the interest earned from the amount invested at 15% exceeds the interest earned from the amount invested at 6% by $261.54, how much is invested at each rate? (Round to two decimal places if necessary.)
Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


Let x be the amount invested at 15%; then the amount invested at 6% is 5581-x.

The interest from x at 15% is .15(x); the interest from (5581-x) at 6% is.06(5581-x).

The problem says the amount of interest earned at 15% is 261.54 more than the interest earned at 6%:

.15%28x%29+=+.06%285581-x%29+%2B+261.54

Solve using basic algebra.