Question: In 2011, a running back signed a contract worth $69.1 million. The contract called for $12 million immediately and a salary of $3.9 million in

In 2011, a running back signed a contract worth $69.1 million. The contract called for $12 million immediately and a salary of $3.9 million in 2011, $10.3 million in 2012, $12 million in 2013, $9.8 million in 2014 and 2015, and $11.3 million in 2016. If the appropriate interest rate is 9 percent, what kind of deal did the running back scamper off with? Assume all payments other than the first $12 million are paid at the end of the year.

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