Question: Question is in attachment Future value. A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments

Question is in attachment Future value. A speculator has purchased land

Question is in attachment

Future value. A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments of $7,400 for 9 years. The loan rate is 4%. At the end of 9 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 9 years from now? $ (Round to the nearest cent.) If he is right on the future price, did he make a wise investment? (Select the best response.) 0 A. No. He will encounter a loss because the value of the land is less than the future value of the loan. 0 B. Yes. He will make a prot because the value of the land is less than the future value of the loan. 0 C. No. He will encounter a loss because the value of the land is greater than the future value of the loan. 0 D. Yes. He will make a prot because the value of the land is greater than the future value of the loan

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