Question: Entered 1191.11 The answer above is NOT correct. (1 point) Answer Preview 1191.11 Result incorrect Bob makes his first $800 deposit into an IRA

Entered 1191.11 The answer above is NOT correct. (1 point) Answer Preview

Entered 1191.11 The answer above is NOT correct. (1 point) Answer Preview 1191.11 Result incorrect Bob makes his first $800 deposit into an IRA earning 7% compounded annually on the day he turns 28 and his last $800 deposit on the day he turns 53 (26 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? Value of the IRA on Bob's 65th birthday: $ 1191.111 Hint: (Hint: First, compute the amount of money in the account on the day Bob turns 53. Preview My Answers Submit Answers Your score was recorded. Your score was successfully sent to the LMS You have attempted this problem 9 times. You received a score of 0% for this attempt. Your overall recorded score is 0%. You have unlimited attempts remaining. 400 1,357 APR

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