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The Joshi Fish Farm (JFF), a saltwater aquarium company, is planning to expand its operations. It anticipates that an expansion will be undertaken in 5
The Joshi Fish Farm (JFF), a saltwater aquarium company, is planning to expand its operations. It anticipates that an expansion will be undertaken in 5 years. In anticipation of the expansion, JFF invests money into a mutual fund that earns 8% compounded annually to finance the expansion. At the end of year 1, they invest $65,000. They increase the amount of their investment by $33,000 each year. How much will JFF have at the end of 5 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
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