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In the year 2000, the New York Mets (a professional baseball team) owed Bobby Bonilla (a baseball player) $5.9 million. Instead of paying the amount on the spot, the Mets and Bonilla agreed to defer his compensation in the following way: starting in 2011, Bonilla would receive $1.2 million every year until 2035 (that is 25 annual payments). Assume the interest rate is 5%, was this a good or bad deal for Bonilla?

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Financial Management, Finance

Category:- Financial Management
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