The nature of capital and income

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Monograph

Identifikator:: 102659555X

URN:: urn:nbn:de:zbw-retromon-82920

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The nature of capital and income

Place of publication:: New York

Publisher:: The Macmillan Company

Year of publication:: 1923

Scope:: XXI, 427 Seiten

Digitisation:: 2019

Collection:: Economics Books

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APPENDIX TO CHAPTER XIII 377 The decrease in capital-value of the annuity, which has been represented by the approach of CE to the horizontal line DE above it, is better represented, however, by inverting CE to the position AB, in order that the capital-value may be repre- sented, as in our previous examples, by the distance from the D E TT Fic, 41. horizontal line AB below it. This change is accomplished in Figure 40. The value of the annuity taken after each installment of income is represented by the ordinate, as mA’, of the curve KB, and the value just before an installment is represented by the ordinate, as nd", of a point above this curve a distance equal to that installment. The value at inter- follows a discount curve, as mn, be- The result is that the capital-value g to the steps, or teeth, shown in the mediate points evidently tween these two points. will rise and fall accordin diagram. As the income items come more frequent and smaller, and disappear when the flow of income is continuous, as represented in Figure 41, where the become more numerous the teeth be- — SRE TRS RR

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