Payback

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Payback

The length of time it takes to recover the initial cost of a project, without regard to the time value of money.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Payback

The length of time until an investment makes an amount of money equal to the original amount invested. It does not account for the time value of money. That is, the payback period differs from the break-even time, which accounts for inflation, interest, and so forth.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved