Question: Bob makes his first $ 7 5 0 deposit into an IRA earning 6 . 5 % compounded annually on the day he turns 2

Bob makes his first $750 deposit into an IRA earning 6.5% compounded annually on the day he turns 27 and his last $750 deposit on the day he turns 55(29 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 6.5% interest compounded annually until Bob retires on his 65 th birthday. How much is the IRA worth when Bob retires?
Value of the IRA on Bob's 65th birthday: $
 Bob makes his first $750 deposit into an IRA earning 6.5%

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