The formula for finding the present value of an amount M that will be
The formula for finding the present value of an amount M that will be received one year from now, when the interest rate is R, is
A) M × (1 + R/100).
B) M × (1 + R).
C) M / (1 + R).
D) M / R.
E) M / (100R).
ANSWER
C
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