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Concept to understand in the understanding of finance

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Reference no: EM131866830

The "Time Value of Money" is an important concept to understand in the understanding of finance, and its role in financial decision-making and valuation. Define the time value of money; include the identification and definition of the different elements of the time value of money (i.e., present value). Provide illustrations of how the time value of money is used to make decisions.

Reference no: EM131866830

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