Question: P4-3 (similar to) Question Help Future value. A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year

P4-3 (similar to) Question Help Future value. A speculator has purchased

P4-3 (similar to) Question Help Future value. A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments of S7,200 for 8 years. The loan rate is 6%. At the end of 8 years, he believes that he can sell the land for $70,000. If he is correct on the future price did he make a wise investment? What is the future value of the loan 8 years from now? Dout forget this $(Round to the nearest cent.)

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