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Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Richard Nixon
Present Value
The modern equivalent value of a future monetary sum or cash flow sequence, with an established return rate.
Interest Rate
The percentage charged on a loan or paid on deposited funds, representing the cost of borrowing or the gain on savings.
Future Value
The value of a current asset at a specified date in the future based on an assumed rate of growth.
Present Value
The current valuation of a future financial sum or stream of payments, factoring in a set rate of return.
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