Say if we were to find the past value of $1 at an interest rate of 5% for the 10 years past today.
If we were to use the present value formula
It seems like the past value of $1 is kind of like future value of $1
Does this make sense?
To me it kind of does, since a dollar in hand today is worth less than a dollar we had 10 years ago
Would someone here comment on these findings
If I am attempting it wrong, may you suggest how we would go about finding PAST value of money.