What is meant by the term time value of money? Why is a present value always less

Question:

What is meant by the term time value of money? Why is a present value always less than the to which it relates?

Future 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...