Kai Chang made a $5,400 deposit in her savings account on her 21st birthday, and she has made another $5,400 deposit on every birthday since then. Her account earns 8 percent compounded annually.

How much will she have in the account after she makes the deposit on her 32nd birthday? Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

Note: Appendix C

Future value of an annuity of $1, FV_IFA

FV_A = A[((1 + i)ⁿ 1) / i]

PeriodPercent1%2%3%4%5%6%7%8%9%10%11%12%13%14%15%16%17%18%19%20%25%30%11.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.0001.00022.0102.0202.0302.0402.0502.0602.0702.0802.0902.1002.1102.1202.1302.1402.1502.1602.1702.1802.1902.2002.2502.30033.0303.0603.0913.1223.1533.1843.2153.2463.2783.3103.3423.3743.4073.4403.4733.5063.5393.5723.6063.6403.8133.99044.0604.1224.1844.2464.3104.3754.4404.5064.5734.6414.7104.7794.8504.9214.9935.0665.1415.2155.2915.3685.7666.18755.1015.2045.3095.4165.5265.6375.7515.8675.9856.1056.2286.3536.4806.6106.7426.8777.0147.1547.2977.4428.2079.04366.1526.3086.4686.6336.8026.9757.1537.3367.5237.7167.9138.1158.3238.5368.7548.9779.2079.4429.6839.93011.25912.75677.2147.4347.6627.8988.1428.3948.6548.9239.2009.4879.78310.08910.40510.73011.06711.41411.77212.14212.52312.91615.07317.58388.2868.5838.8929.2149.5499.89710.26010.63711.02811.43611.85912.30012.75713.23313.72714.24014.77315.32715.90216.49919.84223.85899.3699.75510.15910.58311.02711.49111.97812.48813.02113.57914.16414.77615.41616.08516.78617.51918.28519.08619.92320.79925.80232.0151010.46210.95011.46412.00612.57813.18113.81614.48715.19315.93716.72217.54918.42019.33720.30421.32122.39323.52124.70125.95933.25342.6191111.56712.16912.80813.48614.20714.97215.78416.64517.56018.53119.56120.65521.81423.04524.34925.73327.20028.75530.40432.15042.56656.4051212.68313.41214.19215.02615.91716.87017.88818.97720.14121.38422.71324.13325.65027.27129.00230.85032.82434.93137.18039.58154.20874.3271313.80914.68015.61816.62717.71318.88220.14121.49522.95324.52326.21228.02929.98532.08934.35236.78639.40442.21945.24448.49768.76097.6251414.94715.97417.08618.29219.59921.01522.55024.21526.01927.97530.09532.39334.88337.58140.50543.67247.10350.81854.84159.19686.949127.911516.09717.29318.59920.02421.57923.27625.12927.15229.36131.77234.40537.28040.41743.84247.58051.66056.11060.96566.26172.035109.69167.291617.25818.63920.15721.82523.65725.67327.88830.32433.00335.95039.19042.75346.67250.98055.71760.92566.64972.93979.85087.442138.11218.471718.43020.01221.76223.69825.84028.21330.84033.75036.97440.54544.50148.88453.73959.11865.07571.67378.97987.06896.022105.93173.64285.011819.61521.41223.41425.64528.13230.90633.99937.45041.30145.59950.39655.75061.72568.39475.83684.14193.406103.74115.27128.12218.05371.521920.81122.84125.11727.67130.53933.76037.37941.44646.01851.15956.93963.44070.74978.96988.21298.603110.29123.41138.17154.74273.56483.972022.01924.29726.87029.77833.06636.78640.99545.76251.16057.27564.20372.05280.94791.025102.44115.38130.03146.63165.42186.69342.95630.172528.24332.03036.45941.64647.72754.86563.24973.10684.70198.347114.410133.33155.62181.87212.79249.21292.11342.60402.04471.981,054.802,348.803034.78540.58847.57556.08566.43979.05894.461113.280136.310164.490199.020241.33293.20356.79434.75530.31647.44790.95966.701,181.903,227.208,730.004048.88660.40275.40195.026120.800154.760199.640259.060337.890442.590581.830767.091,013.701,342.001,779.102,360.803,134.504,163.215,529.807,343.9030,089.00120,393.005064.46384.579112.800152.670209.350290.340406.530573.770815.0801,163.9001,668.8002,400.003,459.504,994.507,217.7010,436.0015,090.0021,813.0031,515.0045,497.00280,256.001,659,76.00

Do not round intermediate calculations. Round your final answer to 2 decimal places.