The Above Table Shows a 5 Year Payment Plan

question 6

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 plus D (A + B + C +D) or the present value of the first four payments?

• A)$6,200.50
• B)$6,436.27
• C)$6,225.32
• D)$6,589.23

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Definitions:

Phylogeny

The evolutionary history and lineage of species or a particular group of organisms.

Deuterostome

A classification of animals defined by their developmental characteristics, where the anus forms before the mouth during embryonic development.

Echinoderms

Echinoderms are a group of marine invertebrates that include sea stars, sea urchins, and sand dollars, characterized by radial symmetry and a unique water vascular system.

Pseudocoelom

A fluid-filled body cavity lying between the intestines and outer body wall that is only partially lined with mesoderm in some invertebrates.