Steven Garcia plans to save $5,263 every year for the next eight years, starting today. At the end of eight years, Steven will turn 30 years old and plans to use his savings toward the down payment on a house. If his investment in a mutual fund will earn him 8.8 percent annually, how much will he have saved in eight years when he buys his house? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g. 15.25.)

Future value of investment

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