Discount

Definition of Discount

Dis´count`
v. t.1.To deduct from an account, debt, charge, and the like; to make an abatement of; as, merchants sometimes discount five or six per cent for prompt payment of bills.
[imp. & p. p. Discounted; p. pr. & vb. n. Discounting.]
2.To lend money upon, deducting the discount or allowance for interest; as, the banks discount notes and bills of exchange.
Discount only unexceptionable paper.
- Walsh.
3.To take into consideration beforehand; to anticipate and form conclusions concerning (an event).
4.To leave out of account; to take no notice of.
Of the three opinions (I discount Brown's).
- Sir W. Hamilton.
v. i.1.To lend, or make a practice of lending, money, abating the discount; as, the discount for sixty or ninety days.
n.1.A counting off or deduction made from a gross sum on any account whatever; an allowance upon an account, debt, demand, price asked, and the like; something taken or deducted.
2.A deduction made for interest, in advancing money upon, or purchasing, a bill or note not due; payment in advance of interest upon money.
3.The rate of interest charged in discounting.
At a discount
below par, or below the nominal value; hence, colloquially, out of favor; poorly esteemed; depreciated.
Bank discount
a sum equal to the interest at a given rate on the principal (face) of a bill or note from the time of discounting until it become due.
Discount broker
one who makes a business of discounting commercial paper; a bill broker.
Discount day
a particular day of the week when a bank discounts bills.
True discount
the interest which, added to a principal, will equal the face of a note when it becomes due. The principal yielding this interest is the present value of the note.

Related Words

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-Discount-
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