Answer:
1) $181.40
2) $100
3) $81.40
Step-by-step explanation:
Interest rate is 1.5% which mans that the decimal multiplier is 1.015.
1) To find for 40 yrs we do:
40 yrs = 100 x [tex]1.015^{40}[/tex]
= $181.40
2) He contributed $100
3) He gained $181.40 - $100
= $81.40
