You Will Receive a Stream of Payments BEGINNING at the End

Multiple Choice

You will receive a stream of payments BEGINNING at the end of year 1 and the amount will increase by $10 each year until the final payment at the end of year 5.If the first payment is $50,what amount will you have at the end of year 5 if you can invest all amounts at a 7% interest rate?

A) $350.00
B) $374.50
C) $394.79
D) $422.43