Bill plans to fund his individual retirement account (IRA) with a contribution of $8,000 at
the end of each year for the next 25 years
Requirement 1: If Bill can earn 8 percent per year on his contributions, how much will he have in his IRA at the end of Year 25? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g.,
32.16).)