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Question 18) Jimmy Butler just signed a contract with Miami Heat where he will receive $12 million annually at the end of each year, over
| Question 18) | Jimmy Butler just signed a contract with Miami Heat where he will receive $12 million annually at the end of each year, over the next 5 years. Assuming an annual discount rate of 6 percent, what is the present value of this contracts cash flows? | |||||||||||
| (4 Points) | ||||||||||||
| Annual payments | $12,000,000.00 | |||||||||||
| Years | 5.00 | |||||||||||
| Discount Rate | 6.00% | $67,645,115.52 | ||||||||||
| Present Value | $101,096,730.85 | |||||||||||
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Affordable Housing Finance
Authors: K. Hawtrey
2009th Edition
0230555187, 978-0230555181
