What is the pv of the quarterbacks contract what is the pv


A famous quarterback just signed a $8.0 million contract providing $2.7 million a year for 4 years. A less famous receiver signed a $7.0 million 4-year contract providing $3 million now and $2.2 million a year for 4 years. The interest rate is 8%.

a. What is the PV of the quarterback's contract? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

Present value $ million  

b. What is the PV of the receiver's contract? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

Present value $ million

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Financial Management: What is the pv of the quarterbacks contract what is the pv
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