Bob makes his first $1,400 deposit into an IRA earning 6.8% compounded annually on his 24th birthday and his last $1,400 deposit on his 41st birthday (18 equal deposits in all). With no additional...

Bob makes his first $1,400 deposit into an IRA earning 6.8% compounded annually on his 24th birthday and his last $1,400 deposit on his 41st birthday (18 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 6.8% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when bob retires?

Jun 02, 2022
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