Question: Question 2 (7 points) 17 Marks] Kevin James, a top college basketball player from Carleton University, signed a $25 million package with the Ottawa Dinosaurs.
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Question 2 (7 points) 17 Marks] Kevin James, a top college basketball player from Carleton University, signed a $25 million package with the Ottawa Dinosaurs. The terms of the contract states that the player receives $2 million immediately, $1.2 million per year for the first 3 years (with the first payment after one year), and $2 million per year for the next 3 years (with the first payment at the end of year 4). If the interest rate is 6% per year, what would his contract be worth at the time he signs it? (Do not type an answer in the box below, attach all solutions and work as a pdf on the last question)
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