What is the formula for Black-Scholes call option price?

What is the formula for Black-Scholes call option price?

Approach: State formula and define terms.

C = SΦ(d1) - Ke^{-rT}Φ(d2), where d1 = [ln(S/K)+(r+σ²/2)T]/(σ√T), d2 = d1 - σ√T.

Follow-up: What assumptions does Black-Scholes make?

Key concepts: black-scholes, normal distribution, risk-neutral pricing.