来自《耶鲁大学开放课程：金融理论 第9集 第9集》

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  But everybody, every day is calculating these zero coupon prices,
  但是每个人都在计算这个零息债券的价格
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  because that's what they need to do to evaluate every single project
  因为他们需要用这个价格来评估每个项目
• 
  
  that they might conceivably do that day,
  这样才能让人信服的去做
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  and decide whether it's a good project or a bad project.
  判断这个是个好的项目还是坏的
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  Is it worth the price or not worth the price?
  这个价格是不是合适完成交易
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  And it's done by the principle of replication, just as we said.
  这通过我们刚刚提到的复制定理来完成
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  So this formula is going to be slightly complicated.
  公式可能会有点复杂
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  I don't know whether it's worth writing down.
  我不知道是不是要写下来
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  So we've got, buying the 3-year Treasury, the right amount of that.
  所以我们买了适量的3年期债券
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  Then we have to sell a certain amount of the 2-year Treasury,
  我们还要卖出适量的2年期国债
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  because we accumulated extra coupons.
  因为我们还累积得到了额外的利息
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  But now we're also going to be able to sell a certain amount of
  但是我们还要卖掉一部分1年期国债