Question: Bob makes his first $ 1 comma 100 deposit into an IRA earning 7.4 % compounded annually on his 24th birthday and his last $

Bob makes his first $ 1 comma 100 deposit into an IRA earning 7.4 % compounded annually on his 24th birthday and his last $ 1 comma 100 deposit on his 40th birthday (17 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.4 % interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires?

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