Use the following to answer questions 5 - 8 (round to nearest whole dollar) The four actors below have just signed a contract to star in a comedy. Each person signs independent contracts with the following terms: How contract is paid Lump sum in 4 years Lump sum in 5 years Every year for 4 years Every year for 5 years Assume an annual discount rate of 8% (compounded annually). 5. $ Actor 1 Actor 2 Actor 3 Actor 4 6. $ 7. $ Contract amount $1,500,000 8. $ 1,700,000 375,000 300,000 What is the value of Actor 1's contract today (round to nearest dollar)? What is the value of Actor 2's contract today (round to nearest dollar)? What is the value of Actor 3's contract today (round to nearest dollar)? What is the value of Actor 4's contract today (round to nearest dollar)?

Use the following to answer questions 58 (round to nearest whole dollar) The four actors below have just signed a contract to star in a comedy. Each person signs independent contracts with the following terms: Assume an annual discount rate of 8% (compounded annually). 5. $ What is the value of Actor 1's contract today (round to nearest dollar)? 6. $ What is the value of Actor 2 's contract today (round to nearest dollar)? 7. $ What is the value of Actor 3's contract today (round to nearest dollar)? 8. What is the value of Actor 4's contract today (round to nearest dollar)