What concepts and/or skills learned will prepare you for the impact of this variable in your professional or personal life?

The concept of the time value of money is the concept that I believe will be most beneficial to me when dealing with changes in interest rates. Being able to distinguish between the value of investments that offer returns at a different times will help me know which investments would be yield the most money in the future. This will be advantageous for me in both my professional life as an accountant and my personal life as I invest for my retirement.

Required:

Provide additional suggestions for how the concepts and/or skills provided above could be used in the real world. Reference other research to support your assertions.