The graduation rate for schools so he has taken their focus on winning Taylor says students value sports, and applied it to academics.

VOA: standard.2010.06.24

The interesting thing is that it means that the value of consol moves inversely to the interest rate.

有趣的是,它意味着,债务的价值向着利率的相反方向变化

耶鲁公开课 - 金融市场课程节选

The price is just the present value of that stream, discounted at the interest rate.

债券的价格就是这些现金流,以利率r为贴现率算出的贴现值

耶鲁公开课 - 金融市场课程节选

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

耶鲁公开课 - 金融市场课程节选

g has to be less than r for this to make sense because if g--if it's growing faster than the rate of interest, then this infinite series will not converge and the value would be infinite.

必须小于r才行得通,因为如果g比利率涨的还快,那么这个无穷序列就不会收敛,价值就是无穷了

耶鲁公开课 - 金融市场课程节选