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FIN 320 Chapter 5

The Time Value of Money

QuestionAnswer
Simple Interest Interest is earned on principal. $100 invested at 6% per year: 1st year interest earned: $6.00 2nd year interest earned: $6.00 3rd year interest earned: $6.00 Total interest earned: $18.00
Compound Interest Interest is earned on previously earned interest.
Compounding Translating $1 today into its equivalent in the future.
Discounting Translating $1 in the future to its equivalent today.
Created by: cre8nmydestiny
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