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Bob makes his first $1,150$1,150 deposit into an IRA earning 77% compounded annually on the day he turns 25 and his last $1,150$1,150 deposit on
Bob makes his first $1,150$1,150 deposit into an IRA earning 77% compounded annually on the day he turns 25 and his last $1,150$1,150 deposit on the day he turns 48 (24 equal deposits in all.) With no additional deposits, the money in the IRA continues to earn 77% 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:
(Note: The answer is a dollar amount, should include a dollar sign, and should be accurate to two decimal places).
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