Math  /  Algebra

QuestionBob makes his first $900\$ 900 deposit into an IRA earning 7.3%7.3 \% compounded annually on his 24 th birthday and his last $900\$ 900 deposit on his 38th birthday ( 15 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.3%7.3 \% 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 $\$ \square (Round to the nearest cent as needed.)

Studdy Solution
After summing all future values, the total amount in the IRA when Bob retires is approximately:
The amount in the IRA when Bob retires is \$ \boxed{58,674.32}

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