A famous quarterback just signed a $15 million contract providing $3 million a year for 5 years. A less famous receiver signed a $14 million 5-year contract providing $4 million now and $2 million a year for 5 years. The interest rate is 10%. 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. Present value million 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. Present value million c. Who is better paid? Quarterback Receiver A local bank advertises the following deal: "Pay us $100 at the end of each year for 10 years and then we will pay you (or your beneficiaries) $100 at the end of each year forever." a. Calculate the present value of your payments to the bank if the interest rate is 6%. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Present value b. What is the present value of a $100 perpetuity deferred for 10 years if the interest rate is 6%? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Present value c. Is this a good deal? Yes No I now have $20,000 in the bank earning interest of 5% per month. I need $30,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $30,000? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Use a financial calculator or Excel. Time required months