$1$

The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Each person signs independent contracts with the following terms:

$1$ points

$\backslash$table$[[,$Contract Terms$],[,\backslash$table$[[$Contract$],[$Amount$]],\backslash$table$[[$Payment$],[$Date$]]],[$Derek$,$$$480,000,2$ years$],[$Isabel$,520,000,3$ years$],[$Meredith$,395,000,$Today$],[$George$,380,000,1$ year$]]$

Required:

$1-$a$.$ Assuming an annual discount rate of $10\%,$ calculate the present value of the contract amount.

$1-$b$.$ Which of the four actors is actually being paid the most?

References

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Req $1A$

Req $1B$

Assuming an annual discount rate of $10\%,$ calculate the present value of the contract amount. $($FV of $$1,PV$ of $$1,$ FVA of $$1,$ and PVA of $$1)($Use tables, Excel, or a financial calculator. Round your answers to $2$ decimal places.$)$

$\backslash$table$[[,$Present Value$],[$Derek$,],[$Isabel$,],[$Meredith$,],[$George$,]]$