A lump sum of ($ 100,000) is to be paid through constant yearly payments (m) at the
Question:
A lump sum of \(\$ 100,000\) is to be paid through constant yearly payments \(m\) at the end of each year over 10 years.
a) Find the value of \(m\).
b) Assume that the amount remaining at the beginning of every year is invested at the interest rate \(r=2 \%\). How does this affect the value of the constant yearly payment \(m\) ?
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