Essay Available:
page:
1 pages/≈275 words
Sources:
1
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 6.32
Topic:
Application of Time Value Of Money Concepts in Life
Coursework Instructions:
Provide an example, with rationale, of an area in your personal life where you would like to apply time value of money concepts. What can you do to create a more financially sound future for yourself?
Coursework Sample Content Preview:
Time Value of Money
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Provide an example, with rationale, of an area in your personal life where you would like to apply time value of money concepts. What can you do to create a more financially sound future for yourself?
Time Value of Money
The concept of the time value of money is based on the idea that a dollar received today is more than a dollar received in the future (Ehrhardt & Brigham, 2016). Today, a dollar can be invested, and there is a return on investment. Moreover, inflation reduces purchasing power. I would like to apply the time value of money concepts in saving money for retirement. Starting saving early and based on a return on investments higher than the inflation rate, I will save more at retirement if I start with early investments. The investment growth is based on the interest rate, and if the inflation rate remains low, the purchas...
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