Attempts

Keep the Highest $\frac{?}{3}$

$16.$ Application of Time Value of Money Skills

Flynn Fireballer has been playing baseball since he was five years old and has always dreamed of playing in the big leagues. Last season, he was a starting pitcher for a double$-$A $($AA$)-$level baseball team, the Dodge City Cowboys; last year, he was the first runner$-$up for the Minor League Player of the Year award. Using his $99mph$ fastball, an impeccable curve ball and slider, and a reliable changeup pitch, he achieved a $18-2$ win$-$loss record, an earned run average $($ERA$)$ of $2\mathrm{.}23,$ and $166$ strikeouts in $147\mathrm{.}2$ innings pitched. He is also your best friend.

Two weeks ago, on his three$-$year anniversary with the team, Flynn received the following email from his agent, Noah Never$-$Enough, indicating that he is being called up to the Wichita Wizards, the Cowboys's corresponding Major League Baseball $($MLB$)$ team. Moreover, Flynn$\text{'}$s contract is being revised to reflect his new status. The email describes the general terms and conditions of Flynn$\text{'}$s revised contract.

proposal tomorrow. I$\text{'}$m proud of you!

Take care,

Noah

Noah Never$-$Enough

Sports Agent, R&R Talent Management Inc. I Wichita

Flynn is so excited! According to Noah, the contract is worth $$2,840,400-$assuming receipt of all possible bonuses. After rereading the email twice and calling his family, Flynn called you to review the terms of the contract and verify Noah's calculations. After an extended conversation about what he'll do with his newfound wealth, you and Flynn have agreed that any funds received could be invested to earn $9\mathrm{.}00\%,$ compounded monthly.