Solved: Your favorite football player just signed a 5-year 50, Finance Basics

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Your favorite football player just signed a 5-year 50

Your favorite football player just signed a 5-year, $50 million dollar contract. Specifically, he will be paid:

5 million today (signing bonus)

5 million in a year

5 million in 2 years

5 million in 3 years

10 million in 4 years

20 million in 5 years

How much is this contract worth in today's dollars if the annual r is 3%?

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Finance Basics: Your favorite football player just signed a 5-year 50

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Finance Basics: Your favorite football player just signed a 5-year 50

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