Future Value

A motorist, driving by a Texas ranch, hit and killed a calf that was crossing the road.

The driver went to the owner of the calf and explained what had happened.

He then asked what the animal was worth.

“Oh, about $200 today,” said the rancher.

“But in six years it would have been worth $900.

So $900 is what I’m out.”

The motorist sat down and wrote out a check and handed it to the farmer.

“Here,” he said, “is the check for $900.

It’s postdated six years from now.”