Now they are falling and in real terms home prices have fallen almost 10% since the peak in 2006.
从2006年房价格最高点算起,现在房价已经,下跌了将近 10%
I probably should have had it being the, starting here, right, the opening price.
我可能应该从这里进行赋值,也就是开盘价格。
They subtract this from the purchase price of the house and then you've got the cash to go and buy another house.
他们从售房价格里减去这个贷款余额,然后你就可以得到现金去买另一个房子
The CDC can buy this from the manufacturer for a lower price, and when you hear about government organizations distributing vaccines to different parts of the world, they're buying at a reduced rate but it's still not inexpensive.
疾控中心可以从工厂拿到较低价格的疫苗,当你听到,政府组织向世界各地,分发派送疫苗时,他们确实给的是折扣价,但却并不那么廉价
So rather than go through this again a whole third time, I've gone through it once in quantities and once in prices, I'm going to get you guys to do it this time by having you do it on a homework assignment.
与其从头到尾再做第三遍,我已经从产量和价格角度从头到尾做过了,我将让你们自己,在家庭作业中完成这个工作
They have a lot of time to look in monitor and analogues. And from a government policy perspective and a banking policy I wander whether the issue of risk of mispricing and so forth had much of the information been more generally available to the average public average person?
他们有很多的时间去关注监视器和,其他类似的东西,从政府政策,和银行政策的角度出发,我在想,错订价格的风险等议题,和其他很多信息能否让,大众,普通人更广泛地接触到?
And in fact we know if the price goes to 0, it's delisted from the exchange.
实际上我们知道如果价格是,它就会从交易中退出。
So, how do we get the price from the discount rate?
那我们怎样才能从贴现率得到价格呢
You want to subtract off the value of a perpetuity that starts after 2T, six-month intervals, so this is the present value of the perpetuity that starts after 2T, six-month intervals.
所以就要从永续债券价格里减去,2T期以后,每六月一期券息的贴现值,这部分是永久债券从第2T期后,每半年一期券息的现值
If you had a perpetuity, which paid C/2 forever, you already know from the perpetuity formula that the value of that would be C/2 divided by r/2 if r/2 is the discount rate.
如果你有一只永续债券,每半年付息C/2,没有到期日,从永续债券的公式可以知道,债券价格等于C/2除以r/2,r/2为贴现率
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