What is the future value of the loan 9 years from now

Reference no: EM13262345

Future value - A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments of $7,200 for 9 years. The loan rate is 4%. At the end of 9 years, he believes that he can sell the land for $60,000. 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?

Reference no: EM13262345

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