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PRESENT VALUE: The amount of money today that, after interest is added, would have the same value as an amount some time in the future. For example, $100 today, given a 10 percent interest rate, would have a value of $110 in one year ($100 plus $10 in interest). Conversely, $110 in one year, given a 10 percent interest rate, would be equivalent to $100 today. The process of translating a future payment into its present value, such an amount to be received when a bond reaches its date of maturity, is often termed discounting.

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An asset or item voluntarily exchanged in a market transaction for another asset or item. This item or asset is usually, but not necessarily, money. A barter transaction occurs if money is NOT one of the assets or items exchanged. In a standard market diagram, price is displayed on the vertical axis.

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Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for high interest rates.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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