PRODUCT is: a. the end result of the manufacturing process, b. commodities offered for sale, or c. an artifact that has been created by someone or some process.
PAYABLE is an amount awaiting payment to be made, e.g. interest payable or taxes payable.
DISCOUNT RATE, generally, it is a rate of return (cost of capital) used to convert a monetary sum, payable or receivable in the future, into present value. In finance, it is the interest rate that the Federal Reserve of the U.S. Government charges a U.S. bank to borrow funds when a bank is temporarily short of funds. Collateral is necessary to borrow, and such borrowing is quite limited because the Fed views it as a privilege to be used to meet short-term liquidity needs, and not a device to increase earnings.
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