calculate the cash value of a financed asset that is paid in the following way: an initial payment of 500,000, in month 2 a payment equal to half its value, in month 7 a payment equal to a third of its value and in month 10 200,000, the interest rate is 3% and focal date in month 4.

Using the value equation I get:

$$P(1+0.03)^4 = 500000(1+0.03)^4 +\frac{P}{2}(1+0.03)^2+\frac{\frac{P}{3}}{(1+0.03)^3}$$

solving for P I get:

$$P = 2446680$$

Did I set up the value equation correctly? Is that The correct value of the asset?



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