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A friend remarks, “I just got out of an accounting lecture about future value and present value. Frankly, I don’t have a clue what the professor was talking about. And we have a quiz on Wednesday. Help! ” Come to your friend’s rescue. Clearly and concisely explain what is meant by the terms future value and present value.

Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...

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