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Jalen Brunson just signed a 4-year contract with the New York Knicks which includes a...

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Accounting

Jalen Brunson just signed a 4-year contract with the New York Knicks which includes a $104 million guaranteed payment paid at the end of each year over the next 4 years based on the following Instagram post. Assume Jalen reinvests each of the 4 annual payments at a rate of 5%:

A. How much is the guaranteed payment worth today?

B. How much is the guaranteed payment worth at the end of 4 years?

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