What is the difference between a Present Value $($PV$)$ and a Future Value $($FV$)?$ Must a PV be in the present? Must a FV be in the future? What does it mean to discount a value? What does compounding mean? How does compound interest compare to simple interest? If you are investing would you rather compound interest or simple interest $($and why$)?$ What if you were a borrower? What is the difference between a "lump$-$sum" investment and an "annuity"? Please name some annuities people deal with on a frequent basis. What are the two main factors that impact the time value of money?