In march 2015 the kansas city chiefs signd jeremy maclin to, Finance Basics

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In march 2015 the kansas city chiefs signd jeremy maclin to

Question: In March 2015, the Kansas City Chiefs signd Jeremy Maclin to a contract reportedly worth $55 million. Maclin's salary (including roster bonus) was to be paid as $3.4 million in 2015, $12.4 million in 2016 and 2017, and $13.4 million in 2018 and 2019. If the appropriate intest rate is 11 percent, what kind of deal did the wide receiver snag? Assume all payments are paid at the end of each year.

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