To calculate the total amount from contributions and interest, we'll break it down step by step.

1. Contributions Calculation: The payments are $240 per quarter for 15 years. To find the total contributions:

   • Payments per year = 4 (since it's quarterly).
   • Total number of payments over 15 years = $15 \times 4 = 60$.
   • Total contributions = $240 \times 60 = 14,400$.

2. Interest Calculation: The future value of the annuity is given as $23,039.02, and the total contributions are $14,400. The difference between the future value and contributions represents the interest earned.

   • Interest = $23,039.02 - 14,400 = 8,639.02$.

Thus:

• The amount from contributions is $14,400.
• The amount from interest is $8,639.02.

Would you like further details or have any questions?

Here are 5 related questions for further exploration:

1. How would the future value change if the interest rate increased to 6%?
2. What is the effect of monthly compounding instead of quarterly?
3. How does the future value change with a different annuity payment, say $300 per quarter?
4. What is the present value of the same annuity if evaluated today?
5. How would inflation affect the real value of the future amount?

Tip: To increase your total future value, either increasing the contribution or the interest rate (or both) will significantly impact the final outcome due to compounding effects.