FINANCIAL
MATHEMATICS
A Practical Guide for Actuaries
and other Business Professionals
Second Edition
CHRIS RUCKMAN, FSA, MAAA
JOE FRANCIS, FSA, MAAA, CFA
Study Notes Prepared by
Kevin Shand, FSA, FCIA
Assistant Professor
Warren Centre for Actuarial
Studi
Valuation of securities
PSTAT 171
Chavez
Probability and Statistics, UCSB
December 2, 2012
Chavez (Probability and Statistics, UCSB)
Valuation of securities
December 2, 2012
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Table of contents
1
Introduction
Components of Bonds
Classication of Bonds
Introduction to the Theory of Interest
PSTAT 171
Chavez
Probability and Statistics, UCSB
October 9, 2012
Chavez (Probability and Statistics, UCSB)
Introduction to the Theory of Interest
October 9, 2012
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Table of contents
1
Background and Preliminari
Important Formulas - PSTAT 171 - Fall 2012
1. Measurement of interest - Constant rates of interest and discount
For simplicity, P.V. denotes the value of a single payment at time 0, and F.V. denotes the value
of the same payment at time t. The value of mo
Exam FM/2 Review
Annuities
Basics
Annuities are streams of payments, in our case for a specified
length
Boil down to geometric series
( 1 # )
=
(1 )
Two main formulas
1
2
=
+ + + =
( 1 + ) 1
1 + + 1 + + 1 =
=
( 1 + )
For annuities due (double dots),
Annuities
PSTAT 171
Chavez
Probability and Statistics, UCSB
November 13, 2012
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Annuities
November 13, 2012
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Table of contents
1
Introduction
2
Geometric Progressions and Series
3
Annuities with Level Payments
Amortization Schedules and Sinking Funds
PSTAT 171
Chavez
Probability and Statistics, UCSB
November 14, 2012
Chavez (Probability and Statistics, UCSB)
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November 14, 2012
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Table of contents
1
Introduction
2
Pro
Lecture 17:
Renaissance Notions of
Woman
Renaissance Notions of Woman
I. Rabelais on Women
II. Medieval Continuities
A. Christian Attitudes
B. The Classics of Biology
C. Natural Female Subjection
III. Areas of Change and Resistance
Mini-Assignment for Di
Lecture 7:
The Hundred Years War:
What was at Stake?
The Hundred Years War:
What Was At Stake?
I. Views of the Hundred Years War
(1337-1453)
II. The Course of the War
III. International Conflict or Civil War?
IV. The Problem of Chivalry
Mini-Assignment fo
Lecture 4:
The Late Medieval
Catholic Church
The Late Medieval Catholic
Church
I. The Shadow of the Plague
II. The Roman Catholic Church
III. The Clergy: First Estate or Mirror of
Society?
IV. Christian Piety in the Face of Death
Assignment for Discussio