Explain the term time value of money

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Assignment:

Explain what is meant by the term "time value of money". For example, why might it be better to receive $8 today, over receiving a promise of $9 seven years from now?

How should one consider the time value of money when planning for retirement?

Reference no: EM133211431

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Explain the term time value of money : What is meant by the term "time value of money". For example, why might it be better to receive $8 today, over receiving a promise of $9 seven years from now?

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