(Answered) Bob makes his first 1000 deposit into an ira earning 64

Economics

Bob makes his first $1000 deposit into an IRA earning 6.4% interest compounded quarterly on his 24th birthday and his last $1000 deposit on his 35th birthday (12 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 6.4% interest compounded quarterly for 30 more years, at which time he retires. How much is in the IRA at retirement?

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Business Economics, Economics

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