Time Value of Money Address all of the question prompts below. Support your resp

Time Value of Money
Address all of the question prompts below. Support your responses with appropriate evidence from your course textbook and/or credible information from the Internet. Your paper should be between 2 and 3 pages long, excluding the title page and references page.
Tasks:
Explain the difference between nominal, periodic, and effective interest rates.
Discuss how the time value of money works and why it is an important concept in finance.
Submissions Details:
Use three or more scholarly sources to support your work.
Submit your paper in Microsoft Word, using APA style.