GNU Free Documentation License . .

: ,

, . , .

, D, g. , ( ) k.

:

P = D*\frac{1+g}{k-g}.

P , , .

P_0 = \frac{D_1}{k-g}

D_1 - D_1 = D_0(1+g).

[]

: \sum_{t=1}^{\infty}  D*\frac{(1+g)^t}{(1+k)^t}.

A = \sum_{t=1}^{n}  D*\frac{(1+g)^t}{(1+k)^t} = D*[\frac{(1+g)}{(1+k)} +...+ \frac{(1+g)^n}{(1+k)^n}]

A*\frac{(1+k)}{(1+g)} = D*[ \frac{(1+g)^0}{(1+k)^0}+ \frac{(1+g)}{(1+k)} +...+ \frac{(1+g)^{n-1}}{(1+k)^{n-1}} + (\frac{(1+g)^n}{(1+k)^n} - \frac{(1+g)^n}{(1+k)^n})]

A*(1+k) = D*(1+g)*(1-\frac{(1+g)^n}{(1+k)^n}) + (1+g)A

Ak = D*(1+g)*(1-\frac{(1+g)^n}{(1+k)^n}) + (1+g)A - A

A(k-g) = D*(1+g)*(1-\frac{(1+g)^n}{(1+k)^n})

A = D*\frac{(1+g)}{(k-g)}*(1-\frac{(1+g)^n}{(1+k)^n})

 n \rightarrow \infty  g < k

A = D*\frac{(1+g)}{(k-g)}