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