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$12,968 is invested part at 7% and the rest at 6% if the interest earned from the amount invested at 7% exceeds the interest earned from the amount invested at 6% by $607.07 how much is invested at each rate

Respuesta :

The amount invested at 7% is $10,655 and that of on 6% is $2313.

What is simple interest?

Simple interest refers to the straightforward crediting of cash flows associated with some investment or deposit.

Given that, $12,968 is invested part at 7% and the rest at 6% if the interest earned from the amount invested at 7% exceeds the interest earned from the amount invested at 6% by $607.07

SI = P*R*T/100, where P is principal, R is rate and T is time.

Let x be the principal, the according to question,

7 (12968 - x) - 6x = 607.07*100

90776 - 7x - 6x = 60707

13x = 30069

x = 2313

Hence, The amount invested at 7% is $10,655 and that of on 6% is $2313.

For more references on simple interest, click;

https://brainly.com/question/25845758

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