What is the total money

You have no debt and $2,000 in your savings account. On your current budget, you figure that you can save an additional $2,000 each year. You want to put your money to work. Calculate the return on each of the investment options described below.

c. Leave half of your $2,000 in savings, and invest the other half in the stock market. Do the same each year, putting $1,000 in stocks and leaving $1,000 in savings. You earn 3% on your savings account, and 10% on your stock investments. How much will you have earned from your savings account after 10 years? How much will you have earned from your stock investments after 10 years? How much money will you have between your savings account and your stocks combined after 10 years?

Money Earned From Savings Account:

Money Earned From Stock Market:

Total Money:

Savings account after 10 years:
The initial 1000 + 1000*10 = $11,000

Now add the 3%: 0.03*11,000 = $330 earned


Stock market after 10 years:
The initial 1000 + 1000*10 = $11,000

Now add the 10%: 0.10*11,000 = $1,100 earned


Total money?
11,000 (from savings after 10 years) + 11,000 (from stock after 10 years) + 330 (savings interest) + 1,100 (stock market interest)
= $23,430