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

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

But you're going to know that the value of that in the market moves opposite with interest rates.

但是你们必须明白的是它的价值,是与市场利率相反的

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

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