The rate of return on any asset consists of two components - the pure time value of money and the risk premium reflecting the sensitivity of the asset to changes in market returns.
The real rate of return otherwise called pure time value of money, is the price necessary to induce investors to forego consumption and save.
и еще:
The Risk-free Rate of Return
The risk-free rate is the rate of interest that is earned for simply delaying consumption
It is also referred to as the pure time value of money

имеем:

Коэффициент окупаемости любого актива состоит из 2х компонентов: реального коэффициента окупаемости (как правило соответствует ставке по безрисковым активам) + ставка за риск,
А вот как перевести? Рабочий ваиант: Чистая стоимость денег.

Tollmuch?