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Table Of Contents

1 Interest Rates and Factors
1.1 Interest
1.2 Simple Interest
1.3 Compound Interest
1.4 Accumulated Value
1.5 Present Value
1.6 Rate of Discount: d
1.7 Constant Force of Interest: δ
1.8 Varying Force of Interest
1.9 Discrete Changes in Interest Rates
Exercises and Solutions
2 Level Annuities
2.1 Annuity-Immediate
2.2 Annuity–Due
2.3 Deferred Annuities
2.4 Continuously Payable Annuities
2.5 Perpetuities
2.6 Equations of Value
3 Varying Annuities
3.1 Increasing Annuity-Immediate
3.2 Increasing Annuity-Due
3.3 Decreasing Annuity-Immediate
3.4 Decreasing Annuity-Due
3.5 Continuously Payable Varying Annuities
3.6 Compound Increasing Annuities
3.7 Continuously Varying Payment Streams
3.8 Continuously Increasing Annuities
3.9 Continuously Decreasing Annuities
4 Non-Annual Interest Rate and Annuities
4.1 Non-Annual Interest and Discount Rates
4.4 Annuities-Immediate Payable pthly
4.5 Annuities-Due Payable pthly
5 Project Appraisal and Loans
5.1 Discounted Cash Flow Analysis
5.2 Nominal vs. Real Interest Rates
Nominal Interest Rates vs. Real Interest Rates
5.3 Investment Funds
5.4 Allocating Investment Income
5.5 Loans: The Amortization Method
5.6 Loans: The Sinking Fund Method
6 Financial Instruments
6.1 Types of Financial Instruments
6.1.1 Money Market Instruments
6.1.2 Bonds
6.1.3 Common Stock
6.1.4 Preferred Stock
6.1.5 Mutual Funds
6.1.6 Guaranteed Investment Contracts (GIC)
6.2 Bond Valuation
6.3 Stock Valuation
7 Duration, Convexity and Immunization
7.1 Price as a Function of Yield
7.2 Modified Duration
7.3 Macaulay Duration
7.4 Effective Duration
Effective Duration
7.5 Convexity
7.5.1 Macaulay Convexity
7.5.2 Effective Convexity
7.6 Duration, Convexity and Prices: Putting it all Together
7.6.1 Revisiting the Percentage Change in Price
7.6.2 The Passage of Time and Duration
7.6.3 Portfolio Duration and Convexity
7.7 Immunization
7.8 Full Immunization
8 The Term Structure of Interest Rates
8.1 Yield-to-Maturity
8.2 Spot Rates
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Financial Mathematics

Financial Mathematics

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Published by Boeing LOver
Actuarial Financial Mathematics. A Practical Guide for Actuaries and other Business Professionals
Actuarial Financial Mathematics. A Practical Guide for Actuaries and other Business Professionals

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Published by: Boeing LOver on Jul 31, 2013
Copyright:Attribution Non-commercial

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02/22/2014

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