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
Correct Answer:

Verified
Correct Answer:
Verified
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