The Above Table Shows a 5 Year Payment Plan

question 59

Multiple Choice

The above table shows a 5 year payment plan. Each payment is made at the end of the year, so after one year, a payment of $ made, after two years another payment of $1,500 is made and so on. The interest rate is 3 percent.
-Refer to the table above. What is the value of A plus B plus C (A + B +C) or the present value of the first three payments?

• A)$4,100.50
• B)$4,426.89
• C)$3,998.12
• D)$4,215.05

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