4 terms


less than
The present value of a future amount is always _______ the future amount.
more valuable, same sum
An amount of money available today is considered ________ than the _______ that will not become available until a future date.
the present value of its future cash flows
A bond's issue price is equal to
The liability for an______note payable is recorded at only the principal amount, rather than the sum of the scheduled future cash payments.