What Is the Formula for the Present Value of an Ordinary

Multiple Choice

What is the formula for the present value of an ordinary annuity of 1?

A) $\frac{(1+i) ^{n-1}}{i}$

B) $\frac{1}{(1+i) ^{n}}$

C) $(1+i) ^{n}$

D) $\frac{1-\left[1 /(1+i) ^{n}\right]}{i}$