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Bob makes his first $800 deposit into an IRA earning 7% compounded annually on the day he turns 26 and his last $800 deposit on the day he turns 35 (10 equal deposits in all.) With no additional deposits, the money in the IRA continues to earn 7% interest compounded annually until Bob retires on his 65th birthday. How much is the IRA worth when Bob retires?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91671320

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