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Why does money have a time value? Define and explain the financial concept of the time value of money. In your submission include explanations of

Why does money have a time value? Define and explain the financial concept of the time value of money. In your submission include explanations of the importance of this concept, the concepts of compounding and discounting, inflations consideration in the time value of money and references to some of the tools that are used to capture this concept.

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