The Time Value of Money
You’ve probably heard that time is money and money is time. Well, you’ve heard it for a reason, because it’s true! In financial circles, there’s a concept called the “time value” of money – this is simply a metric used to measure the worth of money based on different periods of time.
For example, is it more valuable to have $1,000 today or $3,000 in 12 years? …