What does a discount mean? How does it affect Teal Company if Agincourt is the one that paid all the interest. I am so confused.

OneNote + 5 Convert to Shapes Exit Full Screen Drawing 5 & On July 1, 2017, Teal Inc. made two sales. Press Esc to exit full screen 1. It sold land having a fair value of $901,000 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,319,161. The land is carried on Agincourt's books at a cost of $592,800. 2. It rendered services in exchange for a 4%, 8-year promissory note having a face value of $403,820 (interest payable annually). Teal Inc. recently had to pay 9% interest for money that it borrowed from British National Bank. The customers in these two transactions have credit ratings that require them to borrow money at 10% interest. 4 Land FV 10% 90low 13 19161 Fr land 901000 Hc land (592 doo) .13 19161 Note Face PV dift 308200 418161 disc Nite 1319161 X, 68301 pv single sun 9 90low Noto Rec (Face value) 1319161 418161 Disc noto Lana Chic) ST s 92800 gain land 308200 3-30/7-31 1x 4