Bob makes his first $700 deposit into an IRA earming 73% compounded annually on his 24th birthday and his last $700 deposit on his 38th birthday (15 deposits in all). With no additional deposits, the money in the IRA continues to earn 73% 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)

Bob makes his first $700 deposit into an IRA earming 73% compounded annually on his 24th birthday and his last $700 deposit on his 38th birthday (15 deposits in all). With no additional deposits, the money in the IRA continues to earn 73% 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)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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