Question: Bob makes his first $2,000 deposit into an IRA eaming 7.4% compounded annually on his 24th birthday and his last $2,000 deposit on his 41st

Bob makes his first $2,000 deposit into an IRA eaming 7.4% compounded annually on his 24th birthday and his last $2,000 deposit on his 41st birthday (18 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? The amount in the IRA when Bob retires is $ (Round to the nearest cent as needed.)

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