Alan is having a baby now (at t=0) and starting from next year (i.e. t=1) he will save $5000 annually to invest in a fund to pay for his childs college education. How much will be available in the college fund after 18 years (i.e. at t=18)? Assume that the money invested in the fund earns an annual interest rate of 5%. Round your answer to two decimal points.