Do you like the Scheswer or Elans version of formulas for the Forwards reading in derivative?

The only problem I have with Schweser’s version is that they don’t explain why the formula for currency forwards is what it is; in particular, why the spot rate is discounted. (I believe that the CFA Institute’s curriculum also doesn’t explain it.) Other than that, they do a good job: value = PV(what you’d receive) - PV(what you’d pay).

I have no idea about Elan’s; I’ve not seen their materials.

ELan used PV[0, T] as notations