Complete Part I of the Axia Material: Time Value of Money worksheet by defining the time value of money. Include a real-world example that illustrates the concept. Answer the questions:
· Why is time such an important factor in financial matters?
· How might you use the principles of the time value of money to your financial benefit?
Complete Part II by calculating the present value, internal rate of return, and payback period depicted in the worksheet.
Post your assignment as an attachment.