These are insurance--or P&C--these are insurance companies that insure the value of a home or a business or an automobile.

简称P&C,这类保险公司,专门提供住宅,商业和汽车财产保险

耶鲁公开课 - 金融市场课程节选

The present value of this--suppose it pays-- let's say it pays c pounds each year, so it would be c times this.

它的现值就是...假设它需要支付,我们假设它每年支付c英镑,然后这里也乘以c

耶鲁公开课 - 金融市场课程节选

It would be c times 3 in the third year, etc., Then the present value is equal to c/-- that's the formula for the value of a growing console.

在第三年它就是三倍的的三次方,现值就相当于c/,这就是上涨债务价值的公式

耶鲁公开课 - 金融市场课程节选