Loan Amortization and Linear Difference Equations
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F15%3A43906556" target="_blank" >RIV/62156489:43110/15:43906556 - isvavai.cz</a>
Result on the web
<a href="https://ece.pefka.mendelu.cz/sites/default/files/imce/ece_2015_final.pdf" target="_blank" >https://ece.pefka.mendelu.cz/sites/default/files/imce/ece_2015_final.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Loan Amortization and Linear Difference Equations
Original language description
The contribution deals with the application of difference equations in financial mathematics and shows mathematical approach to problem solving in the fields of loan repayment and simple and compound interest. The example of loan amortization is demonstrated. The computational scheme for this problem leads to the first order linear nonhomogeneous difference equation with constant coefficients. Using mathematical procedure for solving difference equations the loan repayment formula is derived. An illustrative example is given and solved in this manner. The corresponding mathematical computations are also performed through the Maple software and the online service Wolfram|Alpha. The capabilities of both computer algebra systems for computing the mentioned problem are compared. The main aim is to show the use of mathematical theoretical knowledge for deriving certain formulas of financial topics.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AM - Pedagogy and education
OECD FORD branch
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Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Enterprise and Competitive Environment: Conference Proceedings
ISBN
978-80-7509-342-4
ISSN
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e-ISSN
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Number of pages
8
Pages from-to
783-790
Publisher name
Mendelova univerzita v Brně
Place of publication
Brno
Event location
Brno
Event date
Mar 5, 2015
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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