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| rev | Admin | (Created page with "'''Solution: A''' Lump sum: 3,000,000 interest i Payments: 500,000 over 6 years i = .14 First find the accumulated value of the payment plan for the 16 years <math display="block"> \begin{aligned} & 500,000 \mathrm{~s}_{\overline{6}|0.14}(1+.14)^{10} \\ & =500,000\left[\left((1+.14)^6-1\right) / .14\right](1.14)^{10} \\ & =15,821,528.50 \end{aligned} </math> Set this equal to the lump sum accumulated value: <math display="block"> \begin{aligned} & 15,821,528.50=3,...") | Nov 22'23 at 0:09 | +807 |