Frank invests $800 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 Year of Original ily izy iz" y + 3 Portfolio Investment Rate 1988 0.04 0.045 0.05 0.05 1991 1989 0.07 0.055 0.04 0.045 1992 1990 0.055 0.07 0.045 0.06 1993 1991 0.06 0.045 0.04 0.04 1994 1992 0.075 0.055 0.04 0.05 1995 1993 0.06 0.06 0.06 0.05 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.)