Homework: Chapter 4 Homework Save 3 of 12 (0 complete) Score: 0 of 1 pt HW Score: 0%, 0 of 12 pts P4-3 (similar to) Question Help Future value. A speculator has purchased land along the southern Oregon coast. He has taken a loan with the end-of-year payments of $7,400 for 8 years. The loan rate iss 4%. At the end of 8 years, he believes that he can sell the land for $70,000. If he 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.)