Which one of the following is the correct formula for the present value of an ordinary annuity?
A) C {{1-[1 / (1+r) t]} / r}
B) C {1-[1 / (1+r) t]} r
C) C {1-[1 / (1+r) t]}
D) C {{1-[1 / (1+r) t]} r}
E) C {1-[r / (1+r) t]}
Correct Answer:
Verified
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