Final answer:
The current value of the account is $30564.66.
Step-by-step explanation:
To calculate the current value of the account, we can use the formula for compound interest: A = P(1 + r/n)^(nt), where A is the final amount, P is the principal amount, r is the interest rate, n is the number of times interest is compounded per year, and t is the number of years. In this case, the principal amount is $21953, the interest rate is 9.79%, the interest is compounded yearly (n = 1), and the time is 5 years. Plugging in these values, we get A = 21953(1 + 0.0979/1)^(1*5). Solving this equation, the current value of the account is $30564.66.