Janine is 25 and has a good job at a biotechnology company. She currently has $7,000 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 6 percent, and she plans to leave it untouched until she retires at age 65. Janine estimates that she will need $946,000 in her total retirement nest egg by the time she is 65 in order to have retirement income of $24,500 a year (she expects that Social Security will pay her an additional $16,000 a year). How much will Janine's IRA be worth when she needs to start withdrawing money from it when she retires? Use Exhibit 1-A. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Exhibit 1A Future value (compounded sum) of $1 after a given number of time periods