(Answered) Question calculating present values in march 2015 the

Finance

Question: Calculating Present Values. In March 2015, the Kansas City Chiefs signed Jeremy Maclin to a contract reportedly worth $55 million. Maclin's salary (including roster bonus) was to be paid as $3.4 million in 2015, $12.4 million in 2016 and 2017, and $13.4 million in 2018 and 2019. If the appropriate interest rate is 11 percent, what kind of deal did the wide receiver snag? Assume all payments are paid at the end of each year.

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