(1 point) Bob makes his first $1,100 deposit into an IRA earning 6.5% compounded annually on the day he turns 28 and his last $1,100 deposit on the day he turns 41 (14 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 6.5% interest compounded annually until Bob retires on his 65th birthday. How much is the IRA worth when Bob retires? Value of the IRA on Bob's 65th birthday: $ |