1. Given your worksheet calculations, which of the following statements is accurate? Is Michael's estimate of the value of Saleem's contract accurate on either a nominal or discounted basis? Check all that apply. Michael's estimate of the nominal value of Saleem's contract is correct. It is appropriate and necessary to discount the endorsement contract using the bank account's effective annual interest rate because of differences in the timing of the compounding of the bank account and that of the payments on the endorsement contract. Michael's estimate of the value of Saleem's contract is incorrect on a nominal basis, and the error is $16,938. Related Question: The local car dealer creating Saleem's endorsement opportunity can earn 6\% (compounded quarterly) on his deposited funds. She would have to deposit each quarter, starting exactly two years before the day Saleem signs his contract, to fund her endorsement contract. [Note: The future value interest factor of 6% compounded quarterly for eight quarterly periods is 8.4328. ] 1. Given your worksheet calculations, which of the following statements is accurate? Is Michael's estimate of the value of Saleem's contract accurate on either a nominal or discounted basis? Check all that apply. Michael's estimate of the nominal value of Saleem's contract is correct. It is appropriate and necessary to discount the endorsement contract using the bank account's effective annual interest rate because of differences in the timing of the compounding of the bank account and that of the payments on the endorsement contract. Michael's estimate of the value of Saleem's contract is incorrect on a nominal basis, and the error is $16,938. Related Question: The local car dealer creating Saleem's endorsement opportunity can earn 6\% (compounded quarterly) on his deposited funds. She would have to deposit each quarter, starting exactly two years before the day Saleem signs his contract, to fund her endorsement contract. [Note: The future value interest factor of 6% compounded quarterly for eight quarterly periods is 8.4328. ]