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    A famous quarterback just signed a $15 million contract providing $3 million a year for 5 years. A less famous receiver signed a $14 million 5-year contract providing $4 million now and $2 million a year for 5 years. Who is better paid? The interest rate is 10 percent

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    Calculate the present value of two contracts. The contract with higher present value is better ...

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    Step by step computations show you how to do this.