Mathematical Interest Theory (Mathematical Association of America Textbooks) |  | Authors: Leslie Jane Federer Vaaler, James Daniel
Publisher: Mathematical Association of America
Category: Book
List Price: $89.95
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Rating:  13 reviews
Sales Rank: 30,320
Media: Hardcover
Edition: 2
Pages: 656
Number Of Items: 1
Shipping Weight (lbs): 1.7
Dimensions (in): 8.9 x 6.2 x 1.2
ISBN: 0883857545
Dewey Decimal Number: 332.801513
EAN: 9780883857540
ASIN: 0883857545
Publication Date: October 1, 2008
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Product Description
Mathematical Interest Theory gives an introduction of how investments grow over time. This is done in a mathematically precise manner. The emphasis is on practical applications that give the reader a concrete understanding of why the various relationships should be true. Among the modern financial topics introduced are: arbitrage, options, futures, and swaps. The content of the book, along with an understanding of probability, will provide a solid foundation for readers embarking on actuarial careers. On the other hand, Mathematical Interest Theory is written for anyone who has a strong high-school algebra background and is interested in being an informed borrower or investor. The content is suitable for a mid-level or upper-level undergraduate course or a beginning graduate course. Mathematical Interest Theory includes more than 240 carefully worked examples. There are over 430 problems, and numerical answers are included in an appendix. A companion student solution manual has detailed solutions to the odd-numbered problems. Most of the examples involve computation, and detailed instruction is provided on how to the Texas Instruments BA II Plus and BA II Plus Professional calculators can be used to efficiently solve the problems. This is important for readers wishing to pass the SOA/CAS joint financial mathematics exam FM/2. However, this part of the book can be skipped without disturbing the flow of the exposition.
Book Description
Mathematical Interest Theory gives an introduction to how investments vary over time, and this book provides a solid foundation for readers embarking on actuarial careers. It is among the recommended reading options for the Society of Actuaries/Casualty Actuarial Society FM/2 exam.
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| Customer Reviews:
Showing reviews 1-5 of 13
 An excellent choice for a textbook in the mathematics of finance June 25, 2010
Charles Ashbacher (Marion, Iowa United States(cashbacher@yahoo.com))
It would be interesting to know if the near financial collapse of late 2008, the subsequent public outrage and move to re-regulate the financial industry has led to an increase in the enrollment in courses in the mathematics of finance. The basic concept of human curiosity should drive an increased interest in how the financial industry works. This book will satisfy that curiosity.
Calculus is not used until the last chapter and then only slightly. The real mathematical prerequisite is the ability to engage and understand lengthy formulas, specifically those involving complex summations. Operationally, the formulas are executed using a Texas Instruments BA II Plus and there is an introductory chapter covering the basics of how to use one. Knowledge of the financial concepts of interest, annuities, loans, bonds, stocks, arbitrage and what drives changes in interest rates is also essential.
This book would be an excellent selection for a textbook in a course of the mathematics of finance. A large number of exercises appear at the end of the chapters and solutions t many of them appear in an appendix. The chapter headings are:
*) The growth of money
*) Equations of value and yield rates
*) Annuities
*) Annuities with different payment and conversion periods
*) Loan repayment
*) Bonds
*) Stocks and financial markets
*) Arbitrage, term structure of interest rates, and derivatives
*) Interest rate sensitivity
a good book February 9, 2009
Huang Xinlu
0 out of 1 found this review helpful
The book is exactly new and it is exactly the same as Edition 1, it's cheaper than edition 1st, so you can take it if your professor ask for edition 1
Perfect for FM exam July 26, 2006
Fitz- (New York, NY)
2 out of 6 found this review helpful
I highly recommend this book for students studying for the FM exam. I read the book cover to cover and passed the exam. It is easy to read and is full of examples to illustrate the concepts. The difficulty levels presented make a nice range; there are a good mix of problems designed to reinforce the concept as well as problems using a combination of concepts (much like the FM exam).
Where to get more information March 23, 2006
James W. Daniel
1 out of 16 found this review helpful
Of course I like the book---I'ma co-author. For sample sections and more information, see http://www.actuarialseminars.com/book.html .
 Good March 2, 2009
Kevin
0 out of 1 found this review helpful
This solutions manual provides the worked-out solutions for the odd numbered questions. For the most part the solutions are detailed and provide help but you will find some that are just equations with numbers filled in and it makes it a little hard to follow.
Showing reviews 1-5 of 13
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