The growth of free inverse monoids

We compute the rate of exponential growth of the free inverse monoid of rank $r$ (and hence an upper bound on the corresponding rate for all $r$-generated inverse monoids and semigroups). This turns out to be an algebraic number strictly between the obvious bounds of $2r-1$ and $2r$, tending to $2r$ as the rank tends to infinity. We also find an explicit expression for the exponential growth rate of the number of idempotents, and prove that this tends to $\sqrt{e(2k-1)}$ as $k \to \infty$.