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A famous quarterback just signed a $12.8 million contract providing $3.2 million a year for 4 years. A less famous receiver signed a $11.8 million
A famous quarterback just signed a $12.8 million contract providing $3.2 million a year for 4 years. A less famous receiver signed a $11.8 million 4-year contract providing $3 million now and $2.4 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
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