$(1$ point$)$

Bob makes his first $$1,200$ deposit into an IRA earning $7\mathrm{.}5\%$ compounded annually on the day he turns $22$ and his last $$1,200$ deposit on the day he turns $41(20$ equal deposits in all$).$ With no additional deposits, the money in the IRA continues to earn $7\mathrm{.}5\%$ interest compounded annually until Bob retires on his $65$th birthday. How much is the IRA worth when Bob retires?

Value of the IRA on Bob's $65$th birthday: $