So, if interest rates go down, the value goes up, if interest rates go up, the value of your investment goes down.

因此如果利率上扬,它的价值就下跌,如果利率上扬 这份投资的价值就会走低

耶鲁公开课 - 金融市场课程节选

Of course, the banker isn't going to give you $1 for something that is paying $1 in a year because the banker knows that $1 could be invested at the interest rate.

当然,银行不会因为某些东西,在一年内收益一美元,而给你一美元,因为银行知道一美元能在利率的基础上,用来投资

耶鲁公开课 - 金融市场课程节选

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

耶鲁公开课 - 金融市场课程节选