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| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
8A.9 Before the start of the 2000 baseball season, the New York Mets decided they didn’t want Bobby Bonilla playing for them any longer. But Bonilla had a contract with the Mets for the 2000 season that would have obliged the Mets to pay him $5.9 million. When the Mets released Bonilla, he agreed to take the following payments in lieu of the $5.9 million the Mets would have paid him in the year 2000: He would receive 25 equal payments of $1,193,248.20 each July 1 from 2011 to 2035. If you were Bobby Bonilla, which would you rather have had, the lump-sum $5.9 million in 2000 or the 25 payments beginning in 2011? Explain the basis for your decision. Source: Mike Sielski, “There’s No Accounting for This,” Wall Street Journal, July 1, 2010.
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