HW21: Problem 3 Previous Problem Problem List Next Problem Results for this submission Entered Answer Preview Result $302,430.89 $302,430.89 incorrect The answer above is NOT correct. (4 points) Bob makes his first $1,000 deposit into an IRA earning 8% compounded annually on the day he turns 24 and his last $1,000 deposit on the day he turns 51 (28 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 65th birthday. How much is the IRA worth when Bob retires? Value of the IRA on Bob's 65th birthday: $302430.89 (Note: The answer is a dollar amount, should include a dollar sign, and should be accurate to two decimal places). Hint: Preview My Answers Submit Answers Your score was recorded. 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