How can PHP functions like time() and date() be utilized to manipulate and display time values effectively?

To manipulate and display time values effectively using PHP functions like time() and date(), you can use them in conjunction to retrieve the current timestamp and format it as needed. For example, you can use time() to get the current timestamp and then use date() to format it into a readable date and time format. This allows you to easily manipulate and display time values in your PHP applications.

$currentTimestamp = time();
$formattedDateTime = date('Y-m-d H:i:s', $currentTimestamp);
echo "Current date and time: " . $formattedDateTime;