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A famous quarterback just signed a $18.0 million contract

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Question

A famous quarterback just signed a $18.0 million contract providing $3.6 million a year for 5 years. A less famous

receiver signed a $17.0 million 5-year contract providing $4 million now and $2.6 million a year for 5 years. The interest rate is 10%. What is the PV of the quarterback’s contract? What is the PV of the receiver’s contract?

 
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