Time value of money, Financial Management

Assignment Help:

TIME VALUE OF MONEY

Time value of money can be described as the value of a unit of money at different time periods.  It involves that the value of a unit of money is not same at different time periods. That is, the value of a sum of money received today is more compared to the similar sum of money received after some time.  On the other hand, the total amount of money received in future is less in value than it is today. The time value of money is also identifies as time preference of money.  Time preference of money is an individual's favorite for possession of a given amount of money now, rather than the similar amount at some future time. There are three reasons for this behavior. They are - i) Subjective preference for consumption ii) Risk due to the uncertainty of cash flows and iii) Availability of investment opportunities.  The time preference for money is generally expressed in terms of a rate of return or discount rate. The expected rate of return (ROR) as also the time value of money will change from individual to individual depending on his/her perception.  In order to develop meaningful comparison between future cash flows at different time periods, it is essential to convert them to a common point in time.  This is completed through two popular approaches -

i)                    Compounding technique and

ii)                   Discounting technique.


Related Discussions:- Time value of money

Aeromag, Our geologist, Rebecca Paulka, has estimated from the earlier expl...

Our geologist, Rebecca Paulka, has estimated from the earlier exploration that the Malian prospects have a 30% likelihood of containing economic quantities of uranium ore, the Nige

Explain about the non-convertible debentures, Expalin about the Non-Convert...

Expalin about the Non-Convertible Debentures (NCDs) NCDs are plain debenture securities issued by corporations. They are normally medium term in nature, maturing between 1 to 8

Valuing a putable bond using binomial model, In a putable bond, the b...

In a putable bond, the bondholder has the right to force the issuer to pay off the bond prior to the maturity date. Let us consider the previous example with the

Why depreciation play in estimating incremental cash flows, What role does ...

What role does depreciation play in estimating incremental cash flows? Depreciation expense is a tax deductible expense and thus affects cash flow through its effect on taxes.

Credit analysis for formulation of optimum credit policy, Q. Credit Analysi...

Q. Credit Analysis for Formulation of Optimum Credit Policy? Credit Analysis: - Credit Analysis is made to estimate the credit worthiness of the customers before making credi

Constructing the binomial interest rate tree, The fundamental princip...

The fundamental principle is that when a tree is used to value an on-the-run issue, the resulting value should be arbitrage free i.e., it should be equal to the o

Activity-based budgeting - abb, It is a method of budgeting in which the ac...

It is a method of budgeting in which the actions that incur costs in every functional area of a company are recorded and their relationships are defined and evaluated. Activities a

Total return analysis, A trade is assessed on the basis of its perfor...

A trade is assessed on the basis of its performance. Performance can be defined as the expected total return over and above the investment horizon of the trade. T

Binomial model, The option features embedded in many bonds and fixed-...

The option features embedded in many bonds and fixed-income securities have made the binomial interest rate tree approach a valuable model for pricing debt. Binomial

Liabilities, compare and contract the potential liabilities of owners of pr...

compare and contract the potential liabilities of owners of proprietorship,partnership and corporation

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd