Investors are adapting to a world of higher interest rates, which reduce the present value of future earnings.

投资者正适应个率上升的世界，率上升降低未来收益的现值。

That surplus amounts to $45 billion, in today's money, between 1960 and 2013.

法的假设条件是将差额部分视作项不用偿还的负债。从1960到2013，数据换算成现值总计达450亿美元。

Specifically, the present value of future cash flow, as shown right there.

具体来说 未来现金流量的现值，如那上面所述。

These future benefits are immediately reflected in the property's present value.

些未来的好处立即反映房产的现值中。

Besides possibly triggering a downturn, they reduce the present value of tech companies' profits, most of which lie far in the future.

除了可能引发经济低迷之外，它们还降低科技公司的润现值，而些润大多还需要很长时间才能兑现。

Present value links the future to the present in many ways.

现值通过多种式将未来与现联系起来。

Next, as suggested by The Economist in February, would be to transfer the net present value of that income stream to Ukraine.

接下来， 正如《经济学人》二月份所建议的那样，将把收入流的净现值转移到乌克兰。

Natural Resources Present value profoundly affects the discovery and use of natural resources.

自然资源现值深刻影响自然资源的发现和使用。

At that interest rate, the present value of a given amount of future money is equal to some smaller amount of present money.

率下，给定数量的未来货币的现值等于较小数量的当前货币。

That increased the risk of future defaults or delay in payments to bondholders—thereby reducing the present value of those bonds.

增加了未来违约或延迟向债券持有人付款的风险，从而降低了些债券的现值。

Meanwhile, a smaller proportion of their value came from the promise of distant future earnings—the present value of which fell dramatically as interest-rate expectations soared.

与此同时，其价值的小部分来自对遥远未来收益的承诺——随着率预期飙升，其现值急剧下降。

But although higher interest rates hurt asset values, they can also be helpful for pension schemes, because they reduce the present value of future payouts.

但是，尽管较高的率损害资产价值，但它们也可能对养老金计划有所帮助， 因为它们降低未来支出的现值。

Any series of future payments can be reduced to a present value that can be paid immediately in a lump sum.

任何系列的未来付款都可以减少到可以立即次性支付的现值。

There is no " present value" to make political decision-makers today take future consequences into account, when those consequences will come after election day.

今天的政治决策者没有“现值”来考虑未来的后果，因为些后果将选举日之后出现。

This year central banks across the rich world have repeatedly raised interest rates, shrinking the present value of the coupons bonds pay out and causing their prices to sink.

今年，发达国家的中央银行再提高率，缩减了支付的息票债券的现值并导致其价格下跌。

Now this must be at least equal to the present value of the opportunity to postpone replacement which will result from laying up the equipment; and it may be more.

现必须至少等于因搁置设备而推迟更换的机的现值；而且可能更多。

The " present value" of an asset is in fact nothing more than its anticipated future benefits, added up and discounted for the fact that they are delayed.

资产的“现值”实际上只不过是其预期的未来收益，由于它们的延迟而被加起来和贴现。

It is buffeting young tech firms particularly hard as the present value of their profits, most of which lie far in the future, are being eroded by rising interest rates.

它对年轻科技公司的打击尤其严重， 因为它们的润现值（其中大部分是遥远的未来） 正被不断上升的率侵蚀。

Prices and Present Values Whether a home, business, or farm is maintained, repaired or improved today determines how long it will last and how well it will operate in the future.

价格和现值 房屋、企业或农场今天是否得到维护、修理或改善，决定了它能持续多久以及未来的运作情况。

The sum has three moving parts: the value of the current investment pot, the discount rate used to calculate the present value of future payouts, and the stream of those expected future payments.

总和包含三个移动部分： 当前投资底池的价值、用于计算未来支出现值的贴现率， 以及些预期未来支出的流。