n March 2018, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF promised to repay the owner of one of these securities $5,000 in March 2048, but investors would receive nothing until then. Investors paid DMF $890 for each of these securities; so they gave up $890 in March 2018, for the promise of a $5,000 payment 30 years later.