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A discount series refers to a sequence of cash flows or payments that are reduced in value over time, typically due to the application of a discount rate. This concept is commonly used in finance to determine the present value of future cash flows, where each payment is discounted back to its value at a specific point in time. Discount series can be applied in various contexts, such as annuities, loans, and investment evaluations, helping to assess the worth of receiving money in the future compared to receiving it today.

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