## Answers

Please find below answeres

Present Value of Ordinary Annuity | = | C *[(1-(1+i/100)^(-n))/(i/100] | |||||

C = Cash flow per period | |||||||

I= interrest rate | |||||||

N= number of payments | |||||||

$ 568,900 | = | Cashflow | * | [(1-(1+5.2/1200)^(-23*12))/(5.2/1200}] | |||

$ 568,900 | Cashflow | * | [1-(1+0.004333)^(-23*12))/0.004333] | ||||

$ 568,900 | Cashflow | * | [1-(1.004333)^(-23*12))/0.004333] | ||||

$ 568,900 | Cashflow | * | [(1-0.303186)/0.004333] | ||||

$ 568,900 | Cashflow | * | {0.696813/0.004333} | ||||

$ 568,900 | Cashflow | * | 160.8374 | ||||

Cashflow | 568900/160.8374 | ||||||

Note 1 : Monthly annuity | Monthly | Cashflow | $ 3,537.85 | ||||

Because of question ask of monthly annutiy below asumptions have been used | |||||||

Number of payments in years | 23 | ||||||

Number of payments in month | 23*12 | ||||||

Number of payments in month terms | 276 | ||||||

Interest Rate for year | 5.20% | ||||||

Interest Rate for month | 5.2%/12 | ||||||

Interest Rate for month terms | 0.43% | ||||||

Note 2 : Negative power | |||||||

power(1.0043333,-23*12) | 0.303186556 |

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