What is the present value of an annuity of $100 received at the end of each year for seven years? The first payment will be received one year from today (round to nearest $10). The interest rate is 1.3%. To solve this problem with a financial calculator, the correct choice is

a

N=7, i=13, PMT= 100, FV=0, solve for PV.

b

N=7, i=1.3, PMT= 100, FV=0, solve for FV.

c

N=7, i=0.013, PMT= 100, FV=0, solve for PV.

d

N=7, i=0.13, PMT= 100, FV=0, solve for PV.