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    Discount \Dis"count`\, n. [Cf. F. d['e]compte. See {Discount},
    v. t.]
    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.

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