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Practical Financial Management
Chapter 6: Time Value of Money
4
Finance
Undergraduate 3
08/13/2011
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Term
Present Value
 Definition
Which ________ value of a sum at a future time is the amount that must be deposited at interest today to have the sum at that time.
Term
Opportunity Cost
 Definition
The _________ _______ of a resource is the benefit that would have been available from its next best use.
Term
Annuity
 Definition
A finite series of equal payments seperated by equal time intervals.
Term
Future value of an annuity
 Definition
The sum, at its end, of all payments and all interest if each payment is deposited when received.
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