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Personal financial planning

In what areas of personal financial planning are the concepts of (a)future value (b) present value (c) ordinary annuities useful . Kindly explain and give a few examples if possible.

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Future value can be very useful if an individual has sufficient amount of money that he or she does not need at the moment, and is looking forward to investing it for a fixed period of time on the future so that it can be used for a future task, like buying a house, taking a big holiday etc.

The interest is compounded annually, monthly, quarterly or half-yearly, and in some cases even ...

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