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A famous quarterback just signed a contract for $9.6 million, providing $3.2 million a year for 4 years. A less famous receiver signed a contract
A famous quarterback just signed a contract for $9.6 million, providing $3.2 million a year for 4 years. A less famous receiver signed a contract for $8.6 million, providing $3 million now and $2.5 million a year for 4 years. The interest rate is 9%. a. What is the PV of the quarterback's contract? (Do not round Intermedlate calculations. Enter your answer In milillions rounded to 2 declmal places.) Present value1million | b. What is the PV of the receiver's contract? (Do not round Intermediate calculatlons. Enter your answer In mlllons rounded to 2 declmal places.) Present value1million | C. Who is better paid? Quarterback O Recelver
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