Answer:
$800 in account that pays 10% interest
$2,200 in account that pays 8% interest
Explanation:
Account A = Money market account that paid 10% simple annual interest
Account B = Money market account that paid 8% simple annual interest
W1 = Proportion of money invested in Account A
W2 = Proportion of money invested in Account B
W1 + W2 = 1
therefore, W1 = 1 - W2
Principle amount = $3,000
3000 x W1 = Amount of money invested in Account A
3000 x W2 = Amount of money invested in Account B
Total interest earned = $256
R1 = 10% simple interest on Account A
R2 = 8% simple interest on Account B)
Total Interest = (Principle x W1 x R1) + (Principle x W2 x R2)
256 = (3000 x W1 x 10%) + (3000 x W2 x 8%)
256 = 300 W1 + 240 W2
256 = 300 W1 + 240 ( 1 - W1)
256 = 300 W1 + 240 - 240 W1
16 = 60 W1
W1 = 16 / 60
W2 = 1 - W1 = 1 - (16/60) = 11/15
Amount of money invested in Account A = 3000 x W1 = 3000 x (16/60) = $800
Amount of money invested in Account B = 3000 x W2 = 3000 x (11/15) =$2,200
