b) On March 1, 1993, Mr. Hernandez deposited RM3,000 annually into an account that used 4.038% annual effective interest rate when the balance in the account was under RM50,000 and 5.5% annual effective interest rate when the balance is at least RM50,000. Mr. Hernandez withdrew RM20,000 on March 1, 2010 in which he stops making annual deposits starting on that date. However, he still using the account to save the remaining balance under the same interest environment. If there were no other withdrawals, find Mr. Hernandez's account balance on March 1, 2020. (15 marks)