The Above Table Shows a 5 Year Payment Plan

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 (A +B) or the present value of the first two payments?

A) $970.87
B) $1,956.12
C) $2,256.98
D) $2,384.77