Then you want to add the present value of the principal and that's the formula.

最后还要加上债券面值的现值,这就是债券定价公式

耶鲁公开课 - 金融市场课程节选

That's the formula for the present value of a consol.

它就是永续公债里现值的计算公式

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