There is that old saying that time is money, but have you ever really thought about how much your time is worth? There are plenty of reasons to want to know the answer to this question, and there are actual mathematical ways to find out the answer.
All that you need to know is how much you are able to make in a given time frame (say one hour) and use that information to figure out how much you might be able to make over a much larger period of time.
Time Value Of Money: Why It Matters
The reason you would want to know your time value of money is because you want to know if various events that you are considering doing are really worth it to you.
The only way to discover the true answer to this is to know what the amount of time you are thinking about spending doing something is worth in terms of dollars. When you have the answers to these questions, then you have the answer to your questions about if the time is really worth the money.
How To Do The Calculation
The best part about the time value of money problem is that the calculation is all done for you by the excel program. You simply plug in the figures that you already have in order to find out what the future figures are going to be. It is simple because you do not have to worry about adding in other variables that you are presently unaware of.
Rather, you are able to do all of the calculations that you need to do right there in the immediate present. Just get the excel program ready to go and you will have accomplished half of the battle already. Get working on it today.
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Thanks for the templete.. Needed it for System Analysis Class