An all-pro defensive lineman is in contract negotiations


An All-Pro defensive lineman is in contract negotiations. The team has offered the following salary structure: Time Salary 0 $ 6,100,000 1 4,700,000 2 5,200,000 3 5,700,000 4 7,100,000 5 7,800,000 6 8,600,000 All salaries are to be paid in a lump sum. The player has asked you as his agent to renegotiate the terms. He wants a signing bonus of $9.6 million payable today and a contract value increase of $1,600,000. He also wants an equal salary paid every three months, with the first paycheck three months from now. If the interest rate is an APR of 5.1 percent compounded daily, what is the amount of his quarterly check? Assume 365 days in a year. (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Quarterly check amount $

Request for Solution File

Ask an Expert for Answer!!
Financial Management: An all-pro defensive lineman is in contract negotiations
Reference No:- TGS02749273

Expected delivery within 24 Hours