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5,679 is invested, part at 12% and the rest at 7%. If the interest earned from the amount invested at 12% exceeds the interest earned from the amount invested at 7% by $407.50, how much is invested at each rate? (Round to two decimal places if necessary.)

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raphealnwobi

The amount of money invested at 12% was $4327 while $1442 was invested at 7%.

What is an equation?

An equation is an expression that shows the relationship between two or more numbers and variables.

Let x represent the amount invested at 12% and y represent the amount invested at 7%, hence:

x + y = 5679   (1)

Also:

0.12x = 0.07y + 407.5   (2)

From both equations:

x = 4327, y = 1442

The amount of money invested at 12% was $4327 while $1442 was invested at 7%.

Find out more on equation at: https://brainly.com/question/2972832

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