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Bob makes his first $ 600 deposit into an IRA earning 8.2 % compounded annually on his 24th birthday and his last $ 600 deposit on his 38th birthday (15 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 8.2% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires?

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Bob makes his first $ 600 deposit into an IRA earning 8.2 % compounded annually

on his 24th birthday and his last $ 600 deposit on his 38th birthday (15 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 8.2% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires?

 
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