The discount rate that is shown is the number that you plug into a formula to get the price.

这里显示的折扣率,需要被代入一个公式来获得价格

耶鲁公开课 - 金融市场课程节选

So what everybody knows is that the discount is converted into a price according to this formula.

所以每个人都知道,折扣率可以通过这个公式转换成价格

耶鲁公开课 - 金融市场课程节选

I'm sorry, I don't understand since the left hand side of your equation does not equal the right hand side, isn't that discount, not price?

对不起,我不太理解,这里等式左边和等式右边,并不相等,这里应该是折扣率而非价格

耶鲁公开课 - 金融市场课程节选

So you have to understand that it's 360 a year because that's just a convention and everybody knows that it's just the way we quote prices.

所以折扣率以360天作为一年,是一项众所周知的传统,我们就此报价

耶鲁公开课 - 金融市场课程节选

So, that's how you go from the discount rate to the investment rate.

这就是从折扣率到投资收益率的换算过程

耶鲁公开课 - 金融市场课程节选

It equals 2.51--that's the discount rate that you see up there-- well, /360.

等于2.51,就是上面显示的折扣率,/360

耶鲁公开课 - 金融市场课程节选

Well, there's a formula that's been used by bond traders for hundreds of years and it's a traditional expression, which goes from the discount rate to the price.

这里有个债券交易商,用了上百年的公式,这是个传统表达式,它能用折扣率算得价格

耶鲁公开课 - 金融市场课程节选

That's how we go from the discount rate to the investment rate.

这就是从折扣率到投资收益率的换算过程

耶鲁公开课 - 金融市场课程节选

The boy would go say, we're offering to pay a discount rate of 2.51-- that was the formula and then anyone could do these calculations; they knew what it meant.

小男孩跑去说,我们愿意以2.51%的折扣率买入,公式就是那样用的,每个人都能算出价格,他们知道是什么意思

耶鲁公开课 - 金融市场课程节选

So, the bid price is the--they don't do it in terms of price, they do it in terms of discount so the bid discount rate- there would be two numbers for each.

出价,往往不以报价的形式出现,而是以折扣率,出价的折扣率,有两个相关的数字

耶鲁公开课 - 金融市场课程节选

If your dealer quotes you a discount rate of 2.51%, you know how to convert that into the price and that's all that matters--all that really matters is the price you have to pay.

如果经销商告诉你折扣率是2.51%,你要知道如何转换成价格,真正和你有关系的,是你需要付多少钱

耶鲁公开课 - 金融市场课程节选