This book provides a unique look at time value of money formulas. These formulas are used in a wide range of business and economic settings: computing compound interest,pension and retirement planning, installment and mortgage loans,bond pricing and capital budgeting.Time value formulas have even been used to describe how humans and animals choose between current and delayed gratification.

Rather than simply enumerating the formulas and describing the applications the author looks at the economic logic behind their development. The author alerts the reader that not all time value formula applications are equally valid and useful. This is a decided break from traditional uncritical introductions to the topic.

The author's writing style is jargon free, sometimes irreverent, informal and concise.