Relationship between Present and Future value of doller
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Is a dollar today worth more than a dollar tomorrow? Why or why not? What is the relationship between present and future value?
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Solution Summary
Solution clearly explains the relationship between Present and Future value of doller. It justifies the saying that a doller today is worth more than a doller tomorrow. Answer contains more than 300 words.
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Answer
If we asked to choose between two choices - Take a dollar today or take a dollar after 3 years. Choice selected will be obviously first one. After all, three years is a long time to wait. Why should any person postpone payment into the future when he or she could have the same amount of money now? For most of us, taking the money ...
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- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
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