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A famous quarterback just signed a $11.2 million contract providing $2.8 million a year for 4 years. A less famous receiver signed $9.4 million 4-year
A famous quarterback just signed a $11.2 million contract providing $2.8 million a year for 4 years. A less famous receiver signed $9.4 million 4-year contract providing $3 million now and $2.3 million a year for 4 years. The interest rate is 8%. a. What is the PV of the quarterback's contract? Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. b. What is the PV of the receiver's contract? Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. Answer is complete but not entirely correct
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