So at the moment we're assuming there's no inflation.

所以我们假设没有通货膨胀的时候
So what does that mean?

什么意思呢
That means that you just look at the right hand side and you

就是说你只看到了等式的右边
say, what's Yale's revenue?

然后问耶鲁的收入呢
Well, whatever it was before we were told by this report of the

在校长宣布只有递延修缮
president that as long as you did the deferred maintenance

才能保持收耶鲁的支平衡前
Yale would be back in balance.

我们实际上不知道耶鲁的收入
So what's the loss of revenue on the right hand side?

那么右边收入的损失有多少呢
It's 10 years of 100 million dollars a year as you can see.

也就是10年每年都有一亿的赤字
Now, you need an interest rate.

现在我们需要运用利率
What should the interest rate be?

利率应该怎么应用进来呢
Well, should it be the nominal interest rate or the real interest rate?

应该是名义上的利率还是实际利率呢