Question

A famous quarterback just signed a contract for $18.6 million, providing $ 3.1 million a year for 6 years. A less

famous receiver signed a contract for $ 17.6 million, providing $ 5 million now and $ 2.1 million a year for 6 years. The interest rate is 9%.

a. What is the PV of the quaterback’s contract? Round 2 decimals

Present value_________ million:

b. What is the PV OF THE RECIEVERS CONTRACT?

present value____million

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