Discount Rate (1) The interest rate used in evaluating water (and other) projects to calculate the present value of future benefits and future costs or to convert benefits and costs to a common time basis (e.g., current dollars). (2) An interest rate that takes into account the future value of dollars currently being expended. In the case of water project discount rates, the interest is figured on an annual basis for a reasonable life of the project. The discount rate recognizes the value of the potential opportunities lost into the future by tying funds up into a water project that could go to other uses. Both the interest rate selected and the length of time it is applied can greatly affect the calculated costs for a project.
Source: http://www.bvsde.paho.org/bvsacg/i/fulltext/dicciona/dicciona.pdf
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Author of the Water Words Dictionary source of text: Gary A. Horton
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