Frank invests $1,000 at the beginning of 1989, 1990, and 1991 in Experience Investment Fund which credits money according to the investment year method using the following chart. Year of Original Investment 1988 1989 1990 1991 1992 1993 iy 0.06 0.05 0.055 0.06 0.075 0.06 iz 13 0.03 0.05 0.065 0.045 0.065 0.05 0.065 0.05 0.045 0.06 0.06 0.06 Y + 3 0.04 0.055 0.05 0.04 0.05 0.05 Year of Portfolio Rate 1991 1992 1993 1994 1995 1996 There are no withdrawals or further deposits. What would his balance have been on January 1, 1994? (Round your answer to the nearest cent.) $ 3725.35 X