in your own words this, I noticed the main difference between our calculations is when we count the $5.9 million. In my case, I assumed that amount was set aside in 2001 and grew with interest for 10 years, reaching about $12.74 million by 2011. That larger amount supports the $1,193,248.20 payments over 25 years. Your method starts with $5.9 million in 2011, which leads to a smaller annual payment. Both approaches make senseit really depends on when the money started growing. I think with a bit more information, we might be able to figure out the most accurate way to calculate it. Great work