Future value. A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end of year payments of $7,000 for 8 years. The loan rate is 7%. At the end of 8 years, he believes that he can sell the land for $60,000. Who is correct on the future price, did he make a wise investment? What is the future value of the loan 8 years from now? $(Round to the nearest cent.)