Put-call parity for European options

Put-call parity for European options with the same strike price and time to expiration is

Call - put = present value of (forward price - strike price)

Equation for put-call parity:
C(K, T) - P(K, T) = PV_0,T(F_0,T - K) = e^-rT(F_0,T - K)

Meaning of variables:

K = strike price of the options

T = time to expiration of the options

C(K, T) = price of a European call with strike price K and time to expiration T.

P(K, T) = price of a European put with strike price K and time to expiration T.

F_0,T = forward price for the underlying asset.

PV_0,T = the present value over the life of the options.

e^-rT*F_0,T = prepaid forward price for the asset.

e^-rT*K= prepaid forward price for the strike.

r = the continuously compounded interest rate.

Source: McDonald, R.L., Derivatives Markets (Second Edition), Addison Wesley, 2006, Ch. 9, p. 282.