Discount rate/Definition

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https://en.citizendium.org/wiki/index.php?title=Discount_rate/Definition&printable=yes
A definition or brief description of Discount rate.

(i) The percentage by which the current value of an asset (to a person or to a commercial organisation) exceeds its value in a year's time. For a person, it is equal to that person’s marginal rate of substitution between consumption in the two successive years. For a commercial organisation, it is equal to that organisation’s cost of capital. (ii) The rate at which banks may borrow at their central bank's discount window.

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