The farther into the future any given amount is received, the larger its present value.
Time amplifies the growth of money. Consequently, to achieve a certain future value, more time means that you can start with less.

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The farther into the future a payment is received, the smaller its present value due to the time value of money, which states that money today is worth more than the same amount in the future due to its potential earning capacity.

The Farther into the Future Any Given Amount Is Received