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Bob makes his first $1,500 deposit into an IRA earning 6.7% compounded annually on his 24th birthday and his last $1,500 deposit on his 42nd birthday (19 equal deposits in all). With no additional deposits, the money in the IRA continues to eam 6.7% interest compounded annually until Bob retires on hs 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is S (Round to the nearest cent as needed.)

Bob makes his first $1,500 deposit into an IRA earning 6.7% compounded annually on his 24th birthday and his last $1,500 deposit on his 42nd birthday (19 equal deposits in all). With no additional deposits, the money in the IRA continues to eam 6.7% interest compounded annually until Bob retires on hs 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is S (Round to the nearest cent as needed.)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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Bob makes his first $1,500 deposit into an IRA earning 6.7% compounded annually on his 24th birthday and his last $1,500 deposit on his 42nd birthday (19 equal deposits in all). With no additional deposits, the money in the IRA continues to eam 6.7% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is $ (Round to the nearest cent as needed.) O Time Remaining: 01:07:51 Next > 3 4. 6 8. delete W E T Y 01 tab A D H. caps lock relum
Transcribed Image Text:Bob makes his first $1,500 deposit into an IRA earning 6.7% compounded annually on his 24th birthday and his last $1,500 deposit on his 42nd birthday (19 equal deposits in all). With no additional deposits, the money in the IRA continues to eam 6.7% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is $ (Round to the nearest cent as needed.) O Time Remaining: 01:07:51 Next > 3 4. 6 8. delete W E T Y 01 tab A D H. caps lock relum
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