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A famous quarterback just signed a $12.91 million contract providing $1.844 million a year for 7 years. A less famous receiver signed a $11.830 million
A famous quarterback just signed a $12.91 million contract providing $1.844 million a year for 7 years. A less famous receiver signed a $11.830 million 7-year contract providing $5.00 million now and $.976 million a year for 7 years. The interest rate is 8.00%. a. Calculate the PV of the quarterback. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million b. Calculate the PV of the receiver. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million c. Who is better paid? receiver quarterback
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