I’m currently working through the Time Value of Money section in the CFA curriculum, and I’d really like to develop a deeper understanding of the concepts—not just how to solve the problems, but also the “why” behind each formula and approach. Sometimes I get confused about when to apply certain formulas (like PV vs. FV, annuities vs. lump sums, effective vs. nominal rates), and I’d appreciate step-by-step guidance with examples.
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