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Future Value: A speculator has purchased land along the southern Oregon Coast. He has taken a Lona with the end of year payment of $8,000

Future Value: A speculator has purchased land along the southern Oregon Coast. He has taken a Lona with the end of year payment of $8,000 for 9 years. The loan rate is 5%> At the end of 9 years he believes that he can sell the land for $80,000. If he is correct in the future price, did he make a wise investment?

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