TITLE:
To an Axiomatic Model of Rate of Growth
AUTHORS:
Václav Studený, Ivan Mezník
KEYWORDS:
Interest Rate; Inflation Rate; Rate of Growth
JOURNAL NAME:
Applied Mathematics,
Vol.4 No.9,
September
20,
2013
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.