CONVERTIBLE Definition

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CONVERTIBLE is a corporate security (usually bonds, notes or preferred stock) that can be exchanged for another form of security (usually common stock).

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ROLL FORWARD BUDGET see CONTINUOUS BUDGET.

PRESENT VALUE is the discounted value of a payment or stream of payments to be received in the future, taking into consideration a specific interest or discount rate. Present Value represents a series of future cash flows expressed in todays dollars. A given amount of money is almost always more valuable sooner than later, so present values are generally smaller than corresponding future values.

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