Raul sets aside $100 per month during his career of 40 years

Last updated: 8/11/2022

Raul sets aside $100 per month during his career of 40 years to prepare for a comfortable retirement. He does not like the idea of investing so he puts his money in a savings account which earns 1.5% interest per year. The balance of his retirement account after 40 years will be $ How much of the total did Raul contribute himself? $ How much money did Raul make through compound interest in this savings account? (Hint: balance - contributions) $