Can someone correct any errors in the workings in red (Please show written equations, no excel!))

4. Calculate an equivalent annual income stream to be received for 40 years based on the following 30 year income stream, using an interest rate of 5% per annum compounded annually in other words, convert the stream of payments over 30 years into a stream of payments over 40 years): Years 1-15 Years 16-20 Years 21-30 $15,000pa $20,000pa $30,000pa (3 marks) 1-(1+rym P= PMT r Step 1: years 1-15 1 1- (1+0.05)) Pi = 15,000 0.05 0.518983 P = 15,000 0.05 P = 155694.87 Step 2: years 16-20 1- (1+0.05) Pit = 20,000 0.05 0.216474 P = 20,000 0.05 P = 86589.53 1 Step 3: years 21-30 1- Piti = 30,000 (1 + 0.05)10) 0.05 0.386087 P= 30,000 0.05 P= 231652.05 Step 4: 40 year income stream +it+iti = 473936.45 1-4 tpad P= PMT 1 T (1 +0.05)) 473936.45 = PMT 0.05 0.857954 473936.45 = PMT 0.05 473936.45 = PMT X 17.159086 473936.45 PMT = 17.159086 PMT = 27,620.14