Question
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 99 years. The
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 99 years. The loan rate is 55 %. At the end of 99 years, he believes that he can sell the land for $80,000. 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?
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Unlimited Business Financing
Authors: Trent Lee, Dr Chad Lee
1st Edition
1934275050, 9781934275054
