The time value of money concept can help you determine how much money you need to save over a period of time to achieve a specific goal.

Question

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The time value of money concept takes into account the fact that money has different values at different points in time due to inflation or interest. By using this concept, you can calculate how much money you need to save over time to achieve a specific goal, accounting for the change in value of money over time.

The Time Value of Money Concept Can Help You Determine