value of money
-value of money means that a sum of money is worth more now than the same sum of money in the future.
– money can grow only through investing
-investment delayed is an opportunity lost
-The formula for computing the time value of money considers the amount of money, its future value, the amount it can earn, and the time frame.
-for savings accounts, the number of compounding periods is an important determinant as well.
the federal reserve
_The Main Street Lending Program (Main Street) was one of several new credit facilities launched by the Federal Reserve and the U.S. Department of the Treasury (Treasury)
_The federal bank of the USA
_Congress created the federal reserve in 1913 to create a safe monetary environment for the USA
-Includes the word of governors which has 7 members
The history of money
-money can make us or it can break us
-is money safer in a mattress or a bank
-forighn excganhge dealer is a system of trust(borrowing and trading money)
-money makes goods and services go world wide
-venis was the first to really use credit shakes spere borrowing money 3000 buckets