So what if you took a bond, a simple coupon bond?

如果你投资付息票债券
What is a simple coupon bond?

最简单的付息票债券
The yield to maturity of a simple coupon bond,

简单息票债券的到期收益率
I'm now on this lecture called yield, what is a simple coupon

我在说收益什么是简单息票
bond?

债券
A simple coupon bond pays the same coupon every year and then

简单付息票债券每年都支付同样的利息
pays the principal and the coupon at its maturity.

在到期的时候把本金和息票返还
So the yield to maturity is going to be the price,

因此到期收益就是价格
which is like a negative payment--suppose you knew the

就像是一个负的支付
price of this bond.

如果你知道债券的价格的话
If you knew the price of the bond, and so the bond is

如果你知道债券的价格
promising all these payments,

这个债券能够保证支付所有的钱