That surplus amounts to $45 billion, in today's money, between 1960 and 2013.

这方法的假设条件是将差额部分视作项不用偿还的负债。从1960到2013，这数据换算成现值总计达450亿美元。

Investors are adapting to a world of higher interest rates, which reduce the present value of future earnings.

投资者正在适应个利率上升的世界，利率上升会降低未来收益的现值。

Specifically, the present value of future cash flow, as shown right there.

具体来说 未来现金流量的现值，如那上面所述。

Besides possibly triggering a downturn, they reduce the present value of tech companies' profits, most of which lie far in the future.

除了可能引低迷之外，它们还会降低科技公司的利润现值，而这些利润大多还需要长时间才能兑现。

Natural Resources Present value profoundly affects the discovery and use of natural resources.

自然资源现值深刻影响自然资源的现和使用。

Any series of future payments can be reduced to a present value that can be paid immediately in a lump sum.

任何的未来付款都可以减少到可以立即次性支付的现值。

These future benefits are immediately reflected in the property's present value.

这些未来的好处会立即反映在房产的现值中。

Next, as suggested by The Economist in February, would be to transfer the net present value of that income stream to Ukraine.

其次， 正如《学人》二月所建议的，可以将该收入流的净现值转移给乌克兰。

Present value links the future to the present in many ways.

现值通过多种方式将未来与现在联起来。

But although higher interest rates hurt asset values, they can also be helpful for pension schemes, because they reduce the present value of future payouts.

但尽管较高的利率会损害资产价值，它们对养老金计划也有帮助， 因为它们会减少未来支付的现值。

I consider future cash flows and I assume that they're just not going to grow and then I discount it back to their present value.

我会考虑未来的现金流，并假设它们不会增长，然后将它们折现回现值。

The current value of the Louisiana Purchase today, now that the land is mostly inhabited and developed, would be about $1.2 trillion just for the land.

如今，路易斯安那购地所涉及的土地大多已有人居住并得到开，其现值约为1.2万亿美元，仅计算土地价值。

For these investors, potential investors, or lenders examining financial records, the company's present value would be seen as reduced, long before the first bus wore out.

对于这些投资者、潜在投资者或审查财务记录的贷款人来说，早在第辆公共汽车报废之前，公司的现值就会被视为下降。

That increased the risk of future defaults or delay in payments to bondholders—thereby reducing the present value of those bonds.

这增加了未来违约或延迟向债券持有人付款的风险，从而降低了这些债券的现值。

Meanwhile, a smaller proportion of their value came from the promise of distant future earnings, the present value of which fell dramatically as interest rate expectations soared.

与此同时， 他们价值中较小的部分来自于对未来收益的预期，而随着利率预期的上升， 这些未来收益的现值大幅下降。

This year central banks across the rich world have repeatedly raised interest rates, shrinking the present value of the coupons bonds pay out and causing their prices to sink.

今年，富裕国家的中央银行多次加息，这缩小了债券支付的票息现值，并导致其价格下跌。

There is no " present value" to make political decision-makers today take future consequences into account, when those consequences will come after election day.

今天的政治决策者没有“现值”来考虑未来的后果，因为这些后果将在选举日之后出现。

It is buffeting young tech firms particularly hard as the present value of their profits, most of which lie far in the future, are being eroded by rising interest rates.

它对年轻科技公司的打击尤其严重， 因为它们的利润现值（其中大部分是在遥远的未来） 正在被不断上升的利率侵蚀。

You can even build it to be dynamic so it counts the number of periods by itself and will move the present value and future value if you use offset.

你甚至可以将其构建为动态形式，让它自动计算期间数量，并且如果你使用偏移函数，它会自动调整现值和未来值。

Now this must be at least equal to the present value of the opportunity to postpone replacement which will result from laying up the equipment; and it may be more.

现在这必须至少等于因搁置设备而推迟更换的机会的现值；而且可能更多。