The concept of time value of money has numerous "real-world" applications. Some of the applications range from calculating the payment for a car or mortgage to estimating what interest rate is needed on an investment to send your child to college in 20 years.
Answer the following questions within a word limit of 150 words:
Q1: Do you believe the concept of time value money is important in ordinary business relationships? Explain.
Q2: How would you use a concept of time value to determine the value of the business?