What would his contract be worth at the time he signs? it

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A local newspaper headline? blared, "Bo Smith Signed for? $30 Million." A reading of the article revealed that on April? 1, 2014, Bo? Smith, the former? record-breaking running back from Football? University, signed a? $30 million package with the Dallas Rangers. The terms of the contract were? $3 million? immediately, $2.4 million per year for the first five years? (with the first payment after one? year) and? $3 million per year for the next five years? (with the first payment at year? 6). If? Bo's interest rate is? 8% per? year, what would his contract be worth at the time he signs? it?

Reference no: EM131236883

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