An actor invests some money at 8%, and $39000 more than twice the amount at 10 %. The total annual interest earned from the investment is $39460. How much did he invest at each amount? Use the six-step method.

Amount invested at 8% = $127,000

Amount invested at 10% = $39,000 + 2($127,000)

= $293,000

Explanation:

Data provided in the question:

Let the amount invested at 8% be 'x'

Therefore,

Amount invested at 10% interest will be $39,000 + 2x

Total amount annual interest earned from the investment = $39,460

Now,

0.08x + [0.10 × ($39,000 + 2x)] = $39,460

or

0.08x + $3,900 + 0.2x = $39,460

or

0.28x = $39,460 - $3,900

or

0.28x = $35,560

or

x = $127,000

Thus,

Amount invested at 8% = $127,000

Amount invested at 10% = $39,000 + 2($127,000)

= $293,000

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