On March 1, 1993, Mr. Hernandez deposited $4,200 into an account that used a 4% annual effective interest rate when the balance was under $5,000 and a 5.5% annual effective interest rate when the balance is at least 5,000. Mr. Hernandez withdrew 1,000 on March 1, 1999. If there were no other deposits or withdrawals, find Mr. Hernandez's account balance on March 1, 2003. (Round your answer to the nearest cent.) Mr. Hernandez's account balance on March 1, 2003 is