You are considering two work contracts, each of which lasts for five years. The two contracts are summarized in the following table. 
Assume that you will be paid at the end of each year. Contract 1 includes a signing bonus of $5,000 to be paid at the beginning of year 1, whereas contract 2 does not include a signing bonus. If the interest rate is 5 percent, which is the better offer?
Definitions:
Intelligence Test
A standardized test designed to measure human intelligence as distinct abilities or as a single general ability.
Current Name
The present or most recent name or designation of an entity, individual, or concept.
Terman Revised
An updated version of a psychological test or intelligence scale originally developed by Lewis Terman, often referring to the Stanford-Binet Intelligence Scales.
David Wechsler
A psychologist known for developing several widely used intelligence scales, including the Wechsler Adult Intelligence Scale (WAIS).
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