Question: A first round draft choice for the Calgary Flames has been signed to a 12 million dollar contract. He has a choice of: 1. Receive

A first round draft choice for the Calgary Flames has been

A first round draft choice for the Calgary Flames has been signed to a 12 million dollar contract. He has a choice of: 1. Receive $4 million at the end of every year for three years or 2. Receive $8 million dollars at the end of year 1, $2 million at the end of year 2 and $2 million at the end of year 3. He can invest his money at an interest rate of 8%. What should he do? Show your calculations

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