HW$21$: Problem $1$

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$(1$ point$)$

Bob makes his first $$1,100$ deposit into an IRA earning $8\%$ compounded annually on the day he turns $26$ and his last $$1,100$ deposit on the day he turns $54(29$ equal deposits in all$).$ With no additional deposits, the money in the IRA continues to earn $8\%$ 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 $65$th birthday: $$