An all-pro defensive lineman is in contract negotiations. the team has offered the following salary structure: time salary 0 $ 5,700,000 1 4,300,000 2 4,800,000 3 5,300,000 4 6,700,000 5 7,400,000 6 8,200,000 all salaries are to be paid in a lump sum. the player has asked you as his agent to renegotiate the terms. he wants a $9.2 million signing bonus payable today and a contract value increase of $1,200,000. he also wants an equal salary paid every three months, with the first paycheck three months from now. if the discount rate is 4.7 percent compounded daily, what is the amount of his quarterly check? assume 365 days in a year. (do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e. g., 1,234,567.89.)

PTM  $ 1,225,900.379

Explanation:

We will calculate the present value of the contract.

Then we will increase by 1,200,000

Next, we subtract the 9.2 bonus payable today

and distribute the rest under quarter payments:

We use present value of a lump sum

05,700,0005,700,000

14,300,0004,102,588.223

24,800,0004,369,383.7

35,300,0004,603,035.135

46,700,0005,551,785.732

57,400,0005,850,312.795

68,200,0006,185,156.501

Then we add them: 36,362,262.09

We increase by 1,200,000

and subtract the 9,200,000 initial payment

28,362,262.09

this is the present value fothe quarterly payment

Next we calculate the equivalent compound rate per quarter:

equivalent rate: 0.002954634

Now we claculate the PTM of an annuity of 24 quearter at this rate:

PV  $28,362,262.09

time24

rate0.002954634

PTM  $ 1,225,900.379

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation:

you can put this in your 11 sentence summary

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