Present value of future money is calculated by use of:

A. $$\frac{{\text{P}}}{{{{\left( {1 + {\text{i}}} \right)}^{\text{t}}}}}$$

B. $$\frac{{\text{P}}}{{{{\left( {1 + {\text{t}}} \right)}^{\text{t}}}}}$$

C. $${\text{P}}{\left( {1 + {\text{i}}} \right)^{\text{t}}}$$

D. $${\text{P}}{\left( {1 + \frac{1}{{\text{i}}}} \right)^{\text{t}}}$$

Answer: Option A