Financial Mathematics: Theory and Practice
Financial Mathematics: Theory and Practice
by Brown
English | 2012 | ISBN: 1259033805 | 346 Pages | PDF | 5 MB
by Brown
English | 2012 | ISBN: 1259033805 | 346 Pages | PDF | 5 MB
FINANCIAL MATHEMATICS: THEORY AND PRACTICE ? Is an alternative approach to the teaching and learning of Financial Mathematics. The authors have a combined 68 years of teaching experience in Actuarial Science, but, in particular, Financial Mathematics. This text is designed to provide readers with a general approach to understanding financial mathematics with respect to a wide range of financial transactions including annuities, mortgages personal loans, bonds and some limited knowledge of advanced topics such as duration and immunization. The textbook presumes knowledge at least equivalent to an introductory course in Calculus. As a result, the problems are posed where solutions may require the use of derivatives and/or integrals, and a comfort with exponents and logarithms. The textbook acknowledges the existence of modern financial calculators and spreadsheets and uses these technologies where appropriate. However, in each and every instant, the goal is to have the student be equipped to understand each solution from fundamental principles.