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Explain why money has a time value. 2. What is the difference between simple interest and compound interest? 3. Explain the Rule of 72. 4.

Explain why money has a time value.

2. What is the difference between simple interest and compound interest?

3. Explain the Rule of 72.

4. What is the meaning of present value (PV)?

5. What do we mean by internal rate of return (IRR)?

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