Time Is Money
The old saying is “time is money.” In business, this is true both figuratively and literally; time is money. A given amount of money today doesn't have the same value as an identical amount of money later on. Consider this simple experiment: Give someone $10 today and at the same time promise to give someone else $10 a month from today. Which of the two people is better off? Of course, the person who gets the $10 today is better off. That person can use the money right now. The person could either spend it or invest it. The person who has to wait not only can't use the money today but also runs the risk that it won't actually be there next month as promised.
The question is, then, how much better off is the person who gets the money ...
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