Question: A famous quarterback just signed a $ 1 2 . 8 million contract providing $ 3 . 2 million a year for 4 years. A

A famous quarterback just signed a $12.8 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%.
What is the PV of the quarterback's contract?
Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.
What is the PV of the receiver's contract?
Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.
Who is better paid?
multiple choice
Quarterback
Receiver

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