What kind of deal did the athelete snag

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Reference no: EM13296200

Assume in 2007, an athelete signed a contract reported to be worth $283 million. The contract called for $4.00 million immediately and $35 million in 2008. The remaining $244.00 million was to be paid as $25 million in 2009, $25 million in 2010, $24 million in 2011, $22 million in 2012, $40 million in 2013, $33 million in 2014, $29 million in 2015, $28 million in 2016 and $18.00 million in 2017. If the appropriate interest rate is 8 percent, what kind of deal did the athelete snag? Assume all payments other than the first $4.00 million are paid at the end of the year.

Reference no: EM13296200

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