Most foresters and forest landowners are aware that money has a time value. A dollar today is worth more than a dollar tomorrow. If you borrow $1,000 from the bank today, you would have to pay back more than $1,000 in 90 days. The term forest economists use for this concept is the t :!me value of money: the closer to today you receive a sum of money, the greater its present value.
Bullard, Steven H.; Monaghan, Thomas A.; and Straka, Thomas J., "Introduction to forest valuation and investment analysis" (1986). Faculty Publications. 81.