Your 13-year old cousin knows that you are in college and learning corporate finance. She...
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Finance
Your 13-year old cousin knows that you are in college and learning corporate finance. She is very interested in knowing about the time value of money and tells you: Cousin, I want to be a millionaire and learn everything about the time value of money. I need you to explain some concepts that I read on the internet, but I dont quite understand. What is compounding and discounting? What is the difference between them? Furthermore, why should I be willing to invest in the promise that I will receive a future payment? Does the answer depend on who is making the promise?"
Answer these questions in your reply to your cousin for your initial post.
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