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 present value of the entire stream of payments?

A) $9,800.14
B) $9,500.23
C) $10,500.56
D) $9,886.70