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In 2015, a baseball player signed a contract reported to be worth $60.8 million. The contract was to be paid as $8.2 million in 2015, $9.7 million in 2016, $10.6 million in 2017, $10.7 million in 2018, $10.7 million in 2019, and $10.9 million in 2020.

If the appropriate interest rate is 10 percent, what kind of deal did the player snag? Assume all payments are paid at the end of the year.

Question: How can I comput this by hand and is there anyway to use the CF in a Texas BAII to caclulate the answer. I have tried both but have not gotten the correct anwer for some reason.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92412155

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