Interest rate-famous quarterback just signed

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A famous quarterback just signed a $9.6 million contract providing $3.2 million a year for 4 years. A less famous receiver signed a $8.6 million 4-year contract providing $3 million now and $2.5 million a year for 4 years. The interest rate is 9%.

PV of receiver:

PV of quarter back:

Reference no: EM13919519

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