The number of years for compounding should be entered as the N value on the financial calculator.
Present value is the sum of discounted cash flows. The future value is discounted at the interest rate. It is the value today of a future amount of money.
For example, if you would receive a lump sum of 1000 in 10 years. The discount rate is 10%. The present value is: 1000 / 1.1^10 = $385.54
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