Jerber Corp. is offering a novel retirement plan. The plan targets grandparents who often give their grandchildren large amounts of money until the children reach school age. The buyer of the retirement plan (say, a grandparent) makes six annual payments to Jerber Corp. on each of the first six birthday's of a grandchild. First birthday: $ 790 Second birthday: $ 790 Third birthday: $ 890 Fourth birthday: $ 850 Fifth birthday: $ 990 Sixth birthday: $ 950 No more payments are made to Jerber Corp. after the childs sixth birthday. When the grandchild reaches the age of 65, he or she is promised to receive $290,000. If the relevant interest rate on this type of investment is 10 percent for the first six years, and 7 percent for all subsequent years.

Compute the future value of the payments on the granchild's 65th birthday.