Question: The time value of money ( TVM ) is a fundamental concept in finance, stating that a dollar today is worth more than a dollar

The time value of money (TVM) is a fundamental concept in finance, stating that a dollar today is worth more than a dollar in the future.
Why do you think this concept is so important for making financial decisions?
How does TVM apply in real-world situations like saving for retirement, taking out loans, or evaluating investment opportunities?
Can you provide an example where understanding the time value of money might influence a financial decision you've made or might make in the future?

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