In your role working with Tennessee Athletics, you receive a sponsorship offer from a local business. They offer to pay you $25,000 at the end of a two-year contract for the rights to have signage, and some sponsorship activation at all basketball games. a. Taking into account the time value of money, what would that offer be worth if evaluated in today's dollars (i.e., discounted back to today)? Assume a discount rate of 4.5%. b. What if they payment didn't come for four years, at 5.5%? c. What if the payment didn't come for six years, at 7%?

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