A hockey player has been offered a salary deal. He can either accept 3 million...
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A hockey player has been offered a salary deal. He can either accept 3 million dollars now and 500,000 in 5 years from now (option 1) or he can accept monthly amounts of 150,000 payable at the end of each month for two years (option 2). Assume that money can be invested at 5.5% compounded quarterly. What is the PV of option 1? Round final answer to 2 decimal places. Don't enter commas. Answer: A hockey player has been offered a salary deal. He can either accept 3 million dollars now and 500,000 in 5 years from now (option 1) or he can accept monthly amounts of 150,000 payable at the end of each month for two years (option 2). Assume that money can be invested at 5.5% compounded quarterly. What is the PV of option 2? Round final answer to 2 decimal places. Don't enter commas
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