Question
A famous quarterback just signed a $13.6 million contract providing $3.4 million a year for 4 years. A less famous receiver signed a $8.2 million
A famous quarterback just signed a $13.6 million contract providing $3.4 million a year for 4 years. A less famous receiver signed a $8.2 million 4-year contract providing $3 million now and $2.9 million a year for 4 years.The interest rate is 8%.
a. What is the PV of the quarterback's contract?(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
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The Legal Environment Today Summarized Case Edition
Authors: Roger LeRoy Miller
8th Edition
130526276X, 978-1305279407, 1305279409, 978-1305704930, 1305704932, 978-1305262768
