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Bob makes his first $600 deposit into an IRA earning 7.5% compounded annually on his 24th birthday and his last$600 deposit on his 36th birthday (13 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.5% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires?

Fig: 1