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(1 point) Bob makes his first $1,150 deposit into an IRA earning 7% compounded annually on the day he turns 28 and his last $1,150

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(1 point) Bob makes his first $1,150 deposit into an IRA earning 7% compounded annually on the day he turns 28 and his last $1,150 deposit on the day he turns 40 (13 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7% 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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