According to a time-honored tradition in finance, it says that it's a promise to pay $1, but it's not worth $1 today.

由于资金有时间价值,他说他承诺支付一美元,但在此时此刻它并不值一美元

耶鲁公开课 - 金融市场课程节选

So it's a very interesting time in finance.

所以现在是金融史上一段非常有趣的时期

耶鲁公开课 - 金融市场课程节选

Now, there's nothing special about annual-- that's the time it take the Earth to go around the sun, but it doesn't have any relevance to finance-- but we are just accustomed to using that.

这里所谓的一年也没什么特别,就是地球绕太阳一圈的时间,和金融没什么关系,我们只是习惯这么用

耶鲁公开课 - 金融市场课程节选