Books Details
Author : Michael J. Osborne Pages : 120 pages Publisher : Palgrave Pivot
Language : ISBN-10 : 1137372761 ISBN-13 : 9781137372765
Books Descriptions
Although mathematicians have known about complex numbers as solutions to
equations since the seventeenth century, the numbers had few applications
until the twentieth century. Today, their applications include mobile phones,
satellite navigation, imaging techniques (MRI, PET), and circuit design in
computers. Until recently, however, there were few applications of complex
numbers to finance. This situation has changed. Multiple Interest Rate Analysis
is the study of all interest rates solving the time value of money equation - not
only the orthodox rates of conventional economics, but also the unorthodox
rates that are complex-valued. The unorthodox rates are employed to convert
conventional financial equations containing a single interest rate into 'dual'
expressions containing every rate. These dual expressions solve long-standing
puzzles and lead to revised conclusions about best practice and sound policy
advice in various areas of financial economics, including loan finance,
