In the early post-war period, the corporate--now I'm going to talk-- there's a distinction between the rate that they charge and the actual amount that they take.

在战后初期,公司的...我要说明的是,政府规定的税率,与实际征收的税率之间存在着差异

耶鲁公开课 - 金融市场课程节选

.. In 1799, it would cost so much to mail a letter-- I don't know exactly, something like $10 or $20 to mail a letter at today's rate-- and it would take a long time get there.

在1799年，寄封信需要花费-,我也不清楚具体的数字,大概相当于现在的10到20块钱-,而且还要花很久才能送达。

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Then later on,whenever you want, you can take your money out Meanwhile, they invest the deposits some way or another at a higher interest rate than they pay on the deposits and they make the difference and that's how they make a profit.

然后你什么时候需要你就可以把钱取出来,同时储蓄机构以比给你的利息,更高的利息储蓄,或者投资，这就出现了差价,这就是储蓄机构盈利的方法。

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What we do is we take the interest rate, which I'll call r, and plug it into a formula, which I didn't actually do the arithmetic to their number.

我们只需将利率r,代入等式中,虽然我没有代入数字验证过...

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I would take my income this year, invest it at the interest rate, and it would turn into Y today times and then I get income next year; so I could consume all that.

可以将今年收入,以利率水平投资,Y天后这份收入就会变成1+R倍,在获得明年的收入后,这些可以一起花掉

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