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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Current Attempt in Progress The Joshi Fish 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 $80,000. They increase the amount of their investment by $29,000 each year. How much will JFF have at the end of 6 years so that it can pay for the expansion? Click here to access the TVM Factor Table calculator. $ Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is 50. Current Attempt in Progress The Joshi Fish 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 $80,000. They increase the amount of their investment by $29,000 each year. How much will JFF have at the end of 6 years so that it can pay for the expansion? Click here to access the TVM Factor Table calculator. $ Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is 50.