Question: The Joshi Farm (JFF), a saltwater aquarium company, is planning to expand its operations. It anticipates that an expansion will be undertaken in 6 years.

The Joshi Farm (JFF), a saltwater aquarium company, is planning to expand its operations. It anticipates that an expansion will be undertaken in 6 years. In anticipation of the expansion, JFF invests money into a mutual fund that earns 7% compounded annually to finance the expansion. At the end of year 1, they invest 80000. They increase the amount of their investment by 29000 each year. How much will JFF have at the end of 6 years so that it can pay for the expansion?

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