You Sold a Car and Accepted a Note with the Following

Multiple Choice

You sold a car and accepted a note with the following cash flow stream as your payment.What was the effective price you received for the car assuming an interest rate of 5.5%? $$\begin{array} { c c c c c c } & 0 & 1 & 2 & 3 & 4 \\\hline\text { CFs: } & \$ 0 & \$ 1,000 & \$ 2,000 & \$ 2,000 & \$ 2,000\end{array}$$
?

A) $6,123
B) $6,062
C) $5,335
D) $5,214
E) $5,699