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Question: quota professional baseball player signs a contract that will pay...

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A professional baseball player signs a contract that will pay a total of $124 million to play for 10 years. Instead of receiving $12.4 million in each year, the player and team $18.6 million annually in years 1-4 $6.2 million annually in years 5-9 $2.33 million annually in years 10-17 Assume the team can earn a 4% interest rate. How much does the team need to deposit now in the account in order t tulrfund ihe players contra verte entire 17 years? Enter your answer in terms of millions of dollars. For example, if the answer is $12.3 million, enter 12.3. arranges the following payment structure: inord to flyfund the players contract over the entire

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