Bob loans $10,000 to Jim at a nominal annual rate of 8%, convertible monthly. You are given the following information:

1. Jim makes payments at the beginning of each month, starting one month after the loan is made.

2. Jims first payment is $7. Each subsequent payment is $7 more than the previous one. This pattern continues through the first 59 payments.

3. Jims 60th payment pays off the remaining outstanding balance and any interest accrued during the 60th period.

4. Bob reinvests each payment in a bank account paying 6% nominal annual interest, convertible monthly.

How much money does Bob have in the bank account immediately after depositing Jims final payment?