Prolation Prolation Prolation is a term used in the theory of the mensural notation of medieval and Renaissance music to describe its rhythmic structure on a small scale, as opposed to "tempus", which described a larger scale. The term "prolation" is derived from the Latin "prolatio", first used by Philippe de Vitry in describing Ars Nova, a musical style that came about in 14th-century France. Prolation, together with tempus, corresponds roughly to the concept of time signature in modern music. Prolation describes whether a semibreve (whole note) is equal in length to two minims (half notes) ("minor prolation" or "imperfect prolation";
Time value of money formula with varying interest rates. Time value of money The time value of money is the greater benefit of receiving money now rather than later. It is founded on time preference. The time value of money explains why interest is paid or earned: Interest, whether it is on a bank deposit or debt, compensates the depositor or lender for the time value of money. It also underlies investment. Investors are willing to forgo spending their money now only if they expect a favorable return on their investment in the future, such that the increased value to be available later is