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A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments of $7 comma 8007,800 for 1111

A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments of $7 comma 8007,800 for 1111 years. The loan rate is 4%. At the end of 11 years, he believes that he can sell the land for $110,000. If he is correct on the future price, did he make a wise investment?

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