business math revised
posted by lauren on .
Bob makes his first $800 deposit into an IRA earning 7% compounded annually on the day he turns 27 and his last $800 deposit on the day he turns 35. (9 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?