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Carl Hightop, a popular basketball player, has been offered a three-year salary deal. He can either accept $3,000,000 now or accept quarterly amounts of $270,000
Carl Hightop, a popular basketball player, has been offered a three-year salary deal. He can either accept $3,000,000 now or accept quarterly amounts of $270,000 payable at the end of each quarter. If money can be invested at 3% compounded semi-annually, which option is the better option for Carl and by how much? The (1) option is better by $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (1) quarterly payments lump sum
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