An All-Pro defensive lineman is in contract negotiations. The team has offered the following salary structure: Time
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An All-Pro defensive lineman is in contract negotiations. The team has offered the following salary structure:
Time | Salary |
0 | $7,900,000 |
1 | $4,500,000 |
2 | $5,300,000 |
3 | $6,100,000 |
4 | $6,700,000 |
5 | $7,700,000 |
6 | $9,300,000 |
All salaries are to be paid in lump sums. The player has asked you as his agent to renegotiate the terms. He wants a $10 million signing bonus payable today and a contract value increase of $2 million. He also wants an equal salary paid every three months, with the first paycheck three months from now. If the APR is 4.8 percent compounded daily, what is the amount of his quarterly check? Assume 365 days in a year.
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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