Question: In 2015, a baseball player signed a contract reported to be worth $98.5 million. The contract was to be paid as $14.7 million in 2015,

In 2015, a baseball player signed a contract reported to be worth $98.5 million. The contract was to be paid as $14.7 million in 2015, $14.9 million in 2016, $17.1 million in 2017, $17.2 million in 2018, $17.2 million in 2019, and $17.4 million in 2020.

If the appropriate interest rate is 9 percent, what kind of deal did the player snag? Assume all payments are paid at the end of the year.

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