Consider a five$-$year fixed$-$payment security that has a present value of $$1,500.$ If the annual rate of discount is $2$ percent, the payment made at the end of each year is

Question $9$ Select one:

a$.$

$$231\mathrm{.}77.$

b$.$

$$288\mathrm{.}24.$

c$.$

$$300\mathrm{.}00.$

d$.$

$$310\mathrm{.}00.$