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To an Axiomatic Model of Rate of Growth
Department of Applied Mathematics, Faculty of Economics, and Administration, Masaryk University, Brno, Czech Republic
Institute of Informatics, Faculty of Business and Management, Brno University of Technology, Brno, Czech Republic
- 1 Department of Applied Mathematics, Faculty of Economics, and Administration, Masaryk University, Brno, Czech Republic
- 2 Institute of Informatics, Faculty of Business and Management, Brno University of Technology, Brno, Czech Republic
Applied Mathematics·Volume 04 (2013)·Pages 1326–1332·Published 30 August 2013·DOI10.4236/am.2013.49179
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Abstract
In the paper an axiomatic approach to express rates of growth is presented. The formula is given of rate of growth at a point as the limit case of rate of growth on an interval and the inverse formula is derived to compute present and future value of capital for an integrable rate of growth. Incidentally some inconsistencies in currently used formulas are pointed out.
KeywordsInterest RateInflation RateRate of Growth
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