If I have the following assumptions:

1. Interest rate = 12 %

2. Monthly cash flow = 20,000

3. No. of years = 7 years

4. Payment is at the BEGINNING of each month

I want to calculate the Present Value of the stream of cash flow.

So I will try to make it as following and I need the help to advise me whether what my solution is true or not.

The solution for the PV as per my knowledge will be the sum of the following discounted monthly cash flows:

the interest rate i for each month will = 0.01 = 0.12 annual / 12 months

Year 1	20,000	20,000 / (1.01)1/12	20,000 / (1.01)2/12	20,000 / (1.01)3/12	20,000 / (1.01)4/12	20,000 / (1.01)5/12	20,000 / (1.01)6/12	20,000 / (1.01)7/12	20,000 / (1.01)8/12	20,000 / (1.01)9/12	20,000 / (1.01)10/12	20,000 / (1.01)11/12
Year 2	20,000 / (1.01)12/12	20,000 / (1.01)13/12	20,000 / (1.01)14/12	20,000 / (1.01)15/12	20,000 / (1.01)16/12	20,000 / (1.01)17/12	.	.	.	.	.	20,000 / (1.01)23/12
Year 3	20,000 / (1.01)24/12	.	.	.	.	.	.	.	.	.	.	20,000 / (1.01)35/12
Year 4	20,000 / (1.01)36/12	.	.	.	.	.	.	.	.	.	.	20,000 / (1.01)47/12
Year 5	20,000 / (1.01)48/12	.	.	.	.	.	.	.	.	.	.	20,000 / (1.01)49/12
Year 6	20,000 / (1.01)60/12	.	.	.	.	.	.	.	.	.	.	20,000 / (1.01)71/12

Is the above schedule true?

If true, what will be the total value of the PV as the grand total of all the monthly payments