Title of article :
Comparing present and accumulated value of annuities with different interest rates
Author/Authors :
Fathi Manesh, Sirous Department of Statistics - Faculty of Science - University of Kurdistan, Sanandaj, Iran
Abstract :
Assume we have k immediate (due)-annuities with different interest rates. Let i=(i1,i2,...,ik) and i∗=(i∗1,i∗2,...,i∗k) be two vectors of interest rates such that i∗ is majorized by i. It's shown that sum of present and accumulated value of annuities-immediate with interest rate i is grater than sum of present value of annuities-immediate with interest rate i∗. We also prove the similar results for annuities-due.
Keywords :
Arithmetic mean , Majorization , Schur-convex function
Journal title :
Astroparticle Physics
