What's discounted rate used in the cap option

Here is a example of Cap option in John Holl's book Options, Futures and Other Derivatives 9th page 681.

One thing I am confused that there are two discounted rate, one is LIBOR/swap zero curve is flat at 7% and the other is The continuously compounded zero rate for all maturities is 6.9395%.

Here we use forward price $F_k,$ it seems we should use the LIBOR as the a discounted rate.