and he's got to trade in the Treasury market.

他会在国债市场完成这笔交易
So how's this guy going to do this?

那么他要怎么去完成呢
The banker and the Treasury market now, this Pi over 2 dollars,

银行家在市场上这个π(2)
he's going to have to hold this complicated portfolio what's he going to do to?

完成这个复杂的交易他要怎么做
He's going to have to combine the 1 and the 2-year to do this thing

他要把1年期和2年期合并完成第一步
and then the 1-year to undo that thing.

还有1年期完成下一步
So it's actually going to be--so in terms of trading,

从交易的角度看他实际上
if you just had to trade Treasuries, what would you do?

如果你只做债券交易要怎么去做
So this is the correct formula.

这是正确的公式
That's correct and we can figure out what that is,

我们可以计算出这个价格是多少
okay. And so the correct formula is 91.68.

正确解得91.68
That's .917.

四舍五入得到0.917