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 (A + B +C)or the present value of the first three payments?
A)$4,100.50
B)$4,426.89
C)$3,998.12
D)$4,215.05

Question

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 (A + B +C)or the present value of the first three payments?
A)$4,100.50 
B)$4,426.89 
C)$3,998.12 
D)$4,215.05

Quizplus · Accepted Answer

The Answer of  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 (A + B +C)or the present value of the first three payments?
A)$4,100.50 
B)$4,426.89 
C)$3,998.12 
D)$4,215.05

The Above Table Shows a 5 Year Payment Plan