Question: The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Each person signs independent contracts

The four actors below have just signed a contract to star in a dramatic movie about relationships among hospital doctors. Each person signs independent contracts with the following terms: Contract TermsContract AmountPayment DateDerek$600,0002 yearsIsabel640,0003 yearsMeredith500,000TodayGeorge500,0001 yearRequired:1-a. Assuming an annual discount rate of 9%, calculate the present value of the contract amount.1-b. Which of the four actors is actually being paid the most?

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