Answer
See below.
Work Step by Step
An infinite geometric series has a sum if and only if $|r|\lt1$, where $r$ is the common ratio. If it exists, then it equals $\frac{a_1}{1-r}$ where $a_1$ is the first term.
$r=0.88$ from the exercise
Here $|0.88|\lt1$.
Hence the sum (and the upper bound): $\dfrac{350000}{1-0.88}=2916666+\frac{2}{3}$
