PMT function: Did i do it correctly?

[excelplshelp1]

Hi to all who are in this GREAT forum....

This is what i encountered but i do not know how to calculate.

a. Loan amount: $500,000
b. Period: 10 years
c. Interest rate per annum: 3%
d. Instalment: Quarterly

So, how should i calcualte the payment at the end of this quarter?
________________________________________
This is what i have calculated but i do not know if it is correct. So please help me. Thanks

[I use the PMT Function]

rate: 3%/4
nper: 40
pv: 500000

Then the answer i got is $14,515.08/-
So is this correct, or did i made a mistake in anywhere. Deeply appreciate your help Thanks in advance :D