1. Business
  2. Finance
  3. bob makes his first 1400 deposit into an ira earning...

Question: bob makes his first 1400 deposit into an ira earning...

Question details

Bob makes his first $1,400 deposit into an IRA earning 7.4% compounded annually his 24th birthday and his last $1.400 deposit on his 36th birthday earn 7.4% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? 13 equal deposits in all with no additional deposits the money in the IRA continues to The amount in the IRA when Bob retires is $ (Round to the nearest cent as needed.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution