Top Posters
Since Sunday
c
6
r
4
c
3
m
3
h
3
1
3
n
3
s
3
d
3
c
3
a
3
r
3
Home Q & A Board Science-Related Homework Help Mathematics
New Topic  
realgraverobb realgraverobb
wrote...
Go to Answer
Posts: 141
Rep: 0 0
A year ago
Pete Pylon has just signed a "four-year, $68-million deal" with the Ottawa Senators. The terms of the contract include a signing bonus of $4.8 million and salaries of $10 million, $17.2 million, $17.5 million, and $18.5 million in successive years of the contract. The news media always ignore the time value of money when they report the "value" of professional athletes' contracts. What is the economic value of Pete's contract on the date it was signed? Assume that the signing bonus was paid on that date, that the annual salaries will be paid in lump amounts ½ year, 1½ years, 2½ years, and 3½ years later, and that money is worth 5% compounded semiannually. Round the answer to the nearest $1000.
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
Read 38 times
1 Reply
Replies
Answer verified by a subject expert
billbyebillbye
wrote...
#1
Posts: 148
Rep: 2 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

realgraverobb Author
wrote...

A year ago
Thanks
gmiannotti
wrote...

Yesterday
Thank you, thank you, thank you!
kriggs62
wrote...

2 hours ago
this is exactly what I needed
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1125 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 340
  
 136
  
 1035