The equation for NPV can be written as:

Select one:

a$.$ NPV $=$ PV $($present value$)-$ FV $($future value$)$

b$.$ NPV $=$ PV $($cash inflows$)-$ PV $($cash outflows$)$

c$.$ NPV $=$ PI $-$ Initial costs

d$.NPV\frac{?}{P}=$I $-FV$