encountered applications involves the calculation of a future value.

The process for converting present values into future values is called compounding $q,.$ This process requires knowledge of the values of three of four time$-$value$-$of$-$money variables. Which of the following is not one of these variables?

The inflation rate indicating the change in average prices

The duration of the investment $($ N $)$

The interest rate $($I$)$ that could be earned by invested funds

The present value $($PV$)$ of the amount investe