Required information Problem 04.029 - Present worth analysis - DEPENDENT MULTI-PART PROBLEM - ASSIGN ALL THE PARTS Skip to question A sports mortgage is the brainchild of Stadium Capital Financing Group, a company headquartered in Chicago, Illinois. It is an innovative way to finance cash-strapped sports programs by allowing fans to sign up to pay a mortgage over a certain number of years for the right to buy good seats at football games for several decades with season ticket prices locked in. The locked-in price period is 50 years in California. Assume you and your brother went to UCLA. Your brother, Harold, purchases a $20,000 mortgage and pays for it now to get season tickets for $290 each for 50 years, while you, being a three-time alumnus of the same university, are able to buy season tickets at $390 in year 1, with prices increasing by $20 per year for 50 years. NOTE: This is a multi-part question. Once an answer is submitted, you will be unable to return to this part.

Problem 04.029.a - Investment decision based on present worth Which of you made the better deal at an interest rate of 8% per year? The present worth of Harold's investment is $. and the present worth of your investment is $.

made the better deal.