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The textbook is FUNDAMENTAs OF FINANCIAL MANAGEMENT(14th edition). I choose Chapter 5, and the topic is Time Value of Money.
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Chapter 5
Time value of money
A dollar received today is worth more than a dollar received in future. The concept of the
time value of money suggests once a dollar is received today is worth since it can be invested
(Brigham and Houston, p. 137; Chen, p.1). In any investment, despite the risks, there are returns
expected that increase the value of a dollar other than when it would have been received in
future. The concept has been used in planning for retirement, valua...