We have likely all heard the phrase that time is money, or money is time. While that is very true, time value of money has a different meaning from a financial perspective. In fact, time value of money has a number of components associated with it's meaning. 

For now, who can define this topic in broad terms? Specifically, what is the meaning of time value of money?

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The time value of money refers to the principle that money available at the ... View the full answer