In Annuity 'R' stands for a) rate b) year c) recurring deposit d) present value
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Answer:
Present Value
Step by Step Explanation:
P= PMT×1 - ( 1 ( 1 + r ) n ) r.
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present value
The present value formula for an ordinary annuity takes into account three variables. They are as follows:
PMT = the period cash payment
r = the interest rate per period
n = the total number of periods
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