What can be used as money?
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What is the time value of money and how can compound interest be used to calculate the present value of any future amount of money?
A13. Credit cards are considered to be "money substitutes" instead of money because (A) (B) (C) (D) (E) they cannot serve as a temporary medium of exchange. credit card accounts are not chequable. money must eventually be used to pay for the transaction. the only function of money they can perform is to serve as a store of value. they are not acceptable to pay for purchases.