You agree with me now, right?

你现在同意我说的了吗
But, you know, we could plug in for this too, by the way.

但是我们能顺便把这个值代入
So pi of 1, we know what that is.

π(1) 我们知道这个值
Okay, so does everybody see what's going on here?

大家都能知道之后会怎么样了吗
To buy 1 dollar at time 2,

在第二年得到1美元
you don't get the whole 2-year treasury, you buy 1/102 of the 2 year Treasury,

你没有得到2年期债券的全部只是1/102
so it costs you that amount of money.

这需要花费这么一部分钱
But that gives you a little bit of extra at time 1.

但是给了你在第一年额外的收入
How much extra does it give you?

到底有多少额外收入呢
Well, you've got 2 dollars extra for every 2-year Treasury,

每一份2年期国债都第一年都会有2美元
but you didn't buy a whole 2-year Treasury.

但是你没有买整份2年期国债
You bought that fraction of it.

只是买了1/102