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 (A +B)or the present value of the first two payments?
A)$970.87
B)$1,956.12
C)$2,256.98
D)$2,384.77

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 (A +B)or the present value of the first two payments?
A)$970.87 
B)$1,956.12 
C)$2,256.98 
D)$2,384.77

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 (A +B)or the present value of the first two payments?
A)$970.87 
B)$1,956.12 
C)$2,256.98 
D)$2,384.77

The Above Table Shows a 5 Year Payment Plan