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Annuity Famous Quarterback A famous quarterback just signed a $17.21 million contract providing $2.868 million a year for 6 years. A less famous receiver signed
Annuity Famous Quarterback A famous quarterback just signed a $17.21 million contract providing $2.868 million a year for 6 years. A less famous receiver signed a $14.681 million 6-year contract providing $6.00 million now and $1.447 million a year for 6 years. The interest rate is 14.50%. 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? OO quarterback receiver
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