Bob makes his first $600 deposit into an IRA earning 7.2% compounded annually on his 24th birthday and his last $600 deposit on his 43rd birthday (20 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.2% interest compounded annually until Bob retires on his 65th birthday. The amount in the IRA when Bob retires is $enter your response here. (Round to the nearest cent as needed.)
Bob makes his first $600 deposit into an IRA earning 7.2% compounded annually on his 24th birthday and his last $600 deposit on his 43rd birthday (20 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.2% interest compounded annually until Bob retires on his 65th birthday. The amount in the IRA when Bob retires is $enter your response here. (Round to the nearest cent as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Bob makes his first $600 deposit into an IRA earning 7.2% compounded annually on his 24th birthday and his last $600 deposit on his 43rd birthday (20 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.2% interest compounded annually until Bob retires on his 65th birthday.
The amount in the IRA when Bob retires is
$enter your response here.
(Round to the nearest cent as needed.)
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