Question: what is the difference between the subjective discount rate and real interest rate, please explain them in details step by step and please correct me

what is the difference between the subjective discount rate and real interest rate, please explain them in details step by step

and please correct me if i am wrong, the subjective discount rate measures the degree of impatience of the consumer, when its close to 1, it means the consumer is very impatient , when it is close to zero, it means the consumer is very patient? good explanations please, thanks

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