Question
From the textbook, it is said that a dollar in hand today is more valuable than a dollar promised at some time in the future.
From the textbook, it is said that a dollar in hand today is more valuable than a dollar promised at some time in the future. What reasons do you think to cause the difference? What is the difference between interest rate and interest? If the interest rate is 5% and you save $1,000 today, how much interest will you have next year?
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
3rd Canadian Edition
978-0133035575, 133035573, 978-0133970524, 133970523, 978-0134040042
