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Financial Mathematics For Actuaries

Financial Mathematics For Actuaries

Financial Mathematics For Actuaries

Author: Sum Chan Wai; Kuen Tse Yiu
Publisher: McGraw Hill Higher Education
ISBN: 9780071288934
Published In: October 2010
Format: Paperback , 336 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

This is an introductory textbook on the mathematics of interest rates for actuarial science students. It is written at a level of rigor that is required for students majoring in actuarial science and prepares them for further analysis of financial instruments. It emphasizes an intuitive treatment of the mathematics of finance and insurance, with special attention to applications.

Each chapter contains many examples illustrating the applications of mathematical analysis to financial products and personal financial management.
The authors use the financial functions in Excel as the computational tool in this book, which are illustrated through numerous examples.

Target Audience
' Students taking a one-semester course on the mathematics of interest rates in an actuarial science program
' Students preparing for professional exams of various professional actuarial institutions
' Students in actuarial science, quantitative finance, financial engineering and quantitative risk management

Chapter 1 Interest Accumulation and Time Value of Money
Chapter 2 Annuities
Chapter 3 Spot Rates, Forward Rates and the Term Structure
Chapter 4 Rates of Return
Chapter 5 Loans and Costs of Borrowing
Chapter 6 Bonds and Bond Pricing
Chapter 7 Bond Yields and the Term Structure
Chapter 8 Bond Management
Chapter 9 Stochastic Interest Rates

Appendix A Review of Mathematics and Statistics
Appendix B Answers to Selected Exercises

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