A basic principle all business majors are acquainted with is the time value of money (TVM). This economic principle states that a dollar received today is worth moreLinks to an external site. than one received tomorrow. For this assignment, you will discuss the basic principle of the TVM. Please address the following:

1. Lets suppose you were offered $500,000 today or $500,000 one year from now; which would you choose?

2. Identify and discuss three (3) reasons why a dollar today is worth more than a dollar tomorrow. Use specific examples to illustrate your reasoning.