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Could you please show the step by step work with the formula please? 12. (2 points) Jordan Speith has asked Under Armour to renegotiate his

Could you please show the step by step work with the formula please? image text in transcribed
12. (2 points) Jordan Speith has asked Under Armour to renegotiate his contract. He would like his current contract to be amended to include a deferred compensation package. He wants annual payments of $250,000 per year for 20 years, receiving the first of these payments exactly at the end of the 9 years. Interest rates are 12%. What is the present value of the package? 13. (1 point) You want to buy house and go the bank for a loan. You tell the bank that you can afford a $36,000 payment each year. The bank is willing to give you 30 year mortgage and will charges 4% per year. What is the maximum amount pay for the house? you can

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