A Famous Athlete Is Awarded a $9 Million Contract That

Multiple Choice

A famous athlete is awarded a $9 million contract that stipulates equal payments to be made monthly over a period of five years. To determine what lump sum has the same value as the contract today, you would need to use:

A) present value factors
B) future value factors
C) present value factors of an annuity
D) future value factors of an annuity