The interest is imputed, rather than being paid as coupon interest during the term of the instrument; for example, if a T-Bill is purchased for $974,150, the price is quoted at 89.66, or a discount of 10.34% (100.00 – 89.66 = 10.34).
El interés es imputado, en vez de ser pagado en cupones de interés durante el término del instrumento; por $974,150, el precio es cotizado a 89.66, o un descuento de 10.34% (100.00 – 89.66 = 10.34).