If Otto Mann agrees to pay $40,000 for an annuity that provides $605 at the beginning of each month for the next 10 years, given an annual interest rate of 6.9%, would you say that he made a good investment or not? (Hint: You need to calculate the present value of the annuity and compare it to the price that he agreed to pay)

I need to enter the information w/ formulas into a spreadsheet like this one:

Relevant Information
Annual Interest Rate
Periods Per Year
Number of Years
Needed Information
Present Value					PV
Future Value					FV
Payment					PMT
Rate					RATE
Number of Periods					NPER
Additional Calculations (if needed)
Answer: