What really matters to you as an investor is how much you have to pay today to get $100 in sixty days.

对于一个投资者来说,重要的是,现在你需要支付多少钱,才能在60天后获得100美元

耶鲁公开课 - 金融市场课程节选

It pays another pound two years from now, it pays another pound three years from now.

从现在起的第二年需要支付第二个一英镑,从现在开始的第三年需要支付第三个一英镑

耶鲁公开课 - 金融市场课程节选

What is the present value of that? Well, the first-- each payment we'll call a coupon-- so it pays one pound one year from now.

那么它的现值又是多少呢,首先,每一次支付的数额称为一个券息,从现在开始每一年都要支付一英镑

耶鲁公开课 - 金融市场课程节选

The present value is equal to-- remember it starts one year from now under assumption-- we could do it differently but I'm assuming one year now.

则现值就等于,记住它从现在开始起一年一年的支付,只是个假设,我们能做不同的假设,但现在我就假设成一年

耶鲁公开课 - 金融市场课程节选