Posted by lauren on Wednesday, February 9, 2011 at 8:14pm.
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?

business math revised  Anonymous, Wednesday, February 8, 2012 at 10:30pm
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