That would be like a quarter of 1% to postpone your payment by another year; so time was really cheap.

也就是说只需要付1%的1/4就能,延迟一年还款,时间的价值很低

耶鲁公开课 - 金融市场课程节选

But if you wanted to postpone it over seven years or so, time got a lot more expensive.

但如果你要延迟七年以上时间还款,时间价值就很昂贵了

耶鲁公开课 - 金融市场课程节选