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3. Future value. A speculator has purchased land along the southern Oregon coast. He has taken out a ten-year loan with annual payments of $7,200.

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3. Future value. A speculator has purchased land along the southern Oregon coast. He has taken out a ten-year loan with annual payments of $7,200. The loan rate is 6%. At the end of ten years, he believes he can sell the land for $100,000. If he is correct on the future price, did he make a wise investment

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