Discuss the given problem regarding ira

Reference no: EM131947205

Question: Bob mal his first $1, 300 deposit into an IRA g 7.9% compounded annually on his 24th birthday and his last $1, 300 deposit on his 37th birthday (14 equal deposits in no additional deposits, money in the IRA continues to earn 7.9% interest compounded annually until Bob retires on his 65th birthday, How the much in the IRA when retires? The amount in the IRA when Bob retires is $ (Round to the nearest cent as needed.)

Reference no: EM131947205

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