The more accurate comparison is the present-value of the series of cash flows. Assuming a 5% annual risk-free rate (that's actually high), the old iPhone is st

The more accurate comparison is the present-value of the series of cash flows. Assuming a 5% annual risk-free rate (that's actually high), the old iPhone is still cheaper: http://spreadsheets.google.com/pub?key=pBCygk5WFZ3xS06GS2OSfIg&output=html http://spreadsheets.google.com/pub?key=pBCygk5WFZ3xS06GS2OSf...