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Home Q & A Board Science-Related Homework Help Mathematics
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realgraverobb realgraverobb
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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.
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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billbyebillbye
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A year ago
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realgraverobb Author
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A year ago
You make an excellent tutor!
patyfeitosa
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Yesterday
Helped a lot
vernonb
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2 hours ago
Good timing, thanks!
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