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Home Mortgages and Time Value of Money

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How are home mortgages and the "time value of money" concept related?

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Solution Summary

The time value of money is related to the home mortgage business. This solution discusses how they are connected.

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For many people buying a home is the biggest investment that they will make in their lifetime. This investment is not only large to the new homeowner, but for the bank as well. The time value of money is very important to banks when dealing with mortgages. "Money has a time value associated with it and therefore a dollar received today is worth more than a dollar to be ...

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