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Bob makes his first$1,000 deposit into an IRA earning 6.6% compounded annually on his24 th birthday and his last $1,000 deposit on his 42 nd

Bob makes his first$1,000 deposit into an IRA earning 6.6% compounded annually on his24^th birthday and his last $1,000 deposit on his 42^nd birthday (19 equal deposits in all). With no additionaldeposits, the money in the IRA continues to earn6.6% interest compounded annually until Bob retires on his65^th birthday.How much is in the IRA when Bobretires?

(Round to the nearest cent asneeded.)

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