Answer:
To solve this problem, let's assume that the amount invested at 14% is x dollars. Since the total amount invested is $4,028, the amount invested at 7% would be the remainder, which is (4,028 - x) dollars.
The interest earned from the amount invested at 14% can be calculated using the formula: (x * 14%) = 0.14x dollars.
Similarly, the interest earned from the amount invested at 7% can be calculated using the formula: ((4,028 - x) * 7%) = 0.07(4,028 - x) dollars.
According to the problem, the interest earned from the amount invested at 14% exceeds the interest earned from the amount invested at 7% by $313.39. Therefore, we can write the equation:
0.14x - 0.07(4,028 - x) = 313.39.
Now, let's solve this equation:
0.14x - 0.07(4,028 - x) = 313.39
0.14x - 281.96 + 0.07x = 313.39
0.21x - 281.96 = 313.39
0.21x = 313.39 + 281.96
0.21x = 595.35
x = 595.35 / 0.21
x ≈ 2835
Therefore, approximately $2,835 is invested at 14% and the remainder, $4,028 - $2,835 = $1,193, is invested at 7%.
Explanation: