Abstract
Suppose one has an amount of money M to be invested for a year at an annual interest rate I compounded continuously, i.e, total worth of the investment at the end of the year is the limit of what results from compounding 2, 4, 8, 16,…, in each instance at equal time intervals. During the year, the net worth is continually growing, the rate of earning at each time is proportional to the current value. As the year progresses, the value of the account changes, but the law governing earning does not change. This is an example of an autonomous system. One-parameter semigroups in the problems to follow deal with such autonomous systems.
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© 2011 Springer Science+Business Media, LLC
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Neuberger, J.W. (2011). Introduction. In: A Sequence of Problems on Semigroups. Problem Books in Mathematics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-0430-9_1
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DOI: https://doi.org/10.1007/978-1-4614-0430-9_1
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