The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and monthly compounding, and assume that the quoted rate of return continues indefinitely.)

Mutual Fund	Fidelity Growth Company	Vanguard 500 Index	PIMCO Total Return	Vanguard Total Bond Market Index
Type	Stock fund	Stock fund	Bond fund	Bond fund
Rate of Return	30.31%	17.98%	3.63%	3.10%

For the past 25 years you have been depositing $700 per month in the Vanguard Total bond fund, and you have now transferred your current balance to the PIMCO bond fund, where you plan to continue depositing $700 per month until you retire in 30 years. How much can you anticipate having in the investment when you retire? HINT [See Example 1.] (Round your answer to the nearest cent.)