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(1 point) Bob makes his first $1,100 deposit into an IRA earning 8% compounded annually on the day he turns 23 and his last

(1 point) Bob makes his first $1,100 deposit into an IRA earning 8% compounded annually on the day he turns 23 and his last $1,100 deposit on the day he turns 44 (22 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 8% 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: $

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