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. (15 points)

a. Continue putting your money into your savings account, which earns an annual interest rate of 3%. What will the balance of your savings account be at the end of 10 years, and how much interest will you have earned?

Savings Balance:

Interest Earned:

Question

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.            (15 points)

a. Continue putting your money into your savings account, which earns an annual interest rate of 3%. What will the balance of your savings account be at the end of 10 years, and how much interest will you have earned? 

Savings Balance: 

Interest Earned: