The time value of money refers to the idea that there is generally a greater benefit to receiving a sum of money now rather than an identical sum later. It may be seen as an implication of the later developed concept of time preference.
The time value of money refers to the idea that there is generally a greater benefit to receiving a sum of money now rather than an identical sum later. It may be seen as an implication of the later developed concept of time preference.
Source: Wikipedia "Time value of money" · CC BY-SA 4.0
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