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Future Value. A spectator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments of $7,800 for 11

Future Value. A spectator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments of $7,800 for 11 years. The loan rate is 4%. At the end of 11 years, he believes that he can sell the land for $90,000. If he is correct on the future price, did he make a wise investment?

What is the future value of the loan 11 years from now?

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