Foundations and Applications of the Time Value of Money (Frank J. Fabozzi Series) |  | Authors: Pamela Peterson Drake CFA, Frank J. Fabozzi CFA
Publisher: Wiley
Category: Book
List Price: $60.00
Buy New: $32.29
as of 9/7/2010 09:21 CDT details
You Save: $27.71 (46%)
New (27) Used (5) from $32.29
Seller: supermoviedeals
Rating:  1 reviews
Sales Rank: 1,016,063
Media: Hardcover
Pages: 298
Number Of Items: 1
Shipping Weight (lbs): 1.2
Dimensions (in): 9 x 6 x 1.3
ISBN: 0470407360
Dewey Decimal Number: 332.41
EAN: 9780470407363
ASIN: 0470407360
Publication Date: September 8, 2009
Availability: Usually ships in 1-2 business days
| |
| Features:
| • | ISBN13: 9780470407363 | | • | Condition: New | | • | Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed |
|
| Also Available In:
|
| Similar Items:
| |
| Editorial Reviews:
Product Description
Comprehensive coverage of the time value of money In this book, authors Pamela Peterson Drake and Frank Fabozzi fully expand upon the type of time value of money (TVM) concepts usually presented as part of overviews given in other general finance books. Various TVM concepts and theories are discussed, with the authors offering many examples throughout each chapter that serve to reinforce the tools and techniques covered. Problems and detailed solutions-demonstrated using two different financial calculators, as well as Excel-are also provided at the end of each chapter, while glossary terms are provided in an appendix to familiarize you with basic terms. - Provides the basic foundations of the time value of money
- Covers issues ranging from an introduction of financial mathematics to calculating present/future values and understanding loan amortization
- Contains problem/solution sets throughout, so you can test your knowledge of the topics discussed
Understanding the time value of money is essential, and this reliable resource will help you gain a firm grasp of its many aspects and its real-world applications.
|
| Customer Reviews:
spurious accuracy in estimates September 8, 2009
W Boudville (Terra, Sol 3)
2 out of 2 found this review helpful
This book is an elementary discussion of interest rates and how to compute amounts that are compounded using these rates. Reading the book will let you understand basic accounting and to do simple financial planning. It will not however give you enough to do any non-trivial modelling. Like, for example, if you want to construct a financial derivative. Which is not a drawback of the text; it's just a start.
But it does have one flaw, even given its intended level. Various examples are given, especially in the last section, where you make estimates of total value over a number of times. For instance, a comparison is done of the value of an MBA over a subsequent lifetime, with respect to not taking the time off from the workforce, and not paying those huge tuition fees. Typically, the narrative assumes some interest rate gain, given to 2 significant digits. But the sums are given to 5 significant digits.
This is totally wrong. Simple freshman science lab students can spot the flaw in it. The analysis gives totals are over-accurate. They look impressive, to 5 digits, but the last 3 are meaningless.
The problem is that the text does not even give a quick discussion of how not to claim too much accuracy. Sadly, the book is typical of much financial projections, where you can routinely see estimates several years out, to 4 or 5 digits "accuracy". What the reader is not warned about is that the book's examples reflect the accuracy of a calculator, and not the actual accuracy [or uncertainty] of peering into the future.
|
|
|
