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Fixed Income Mathematics / Edition 1

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Overview

An introduction to common fixed income instruments and mathematics, this book offers explanations, exercises, and examples without demanding sophisticated mathematics. Not only does the author use his business and teaching experience to highlight the fundamentals of investment and management decision-making, but he also offers questions and exercises that suggest the applicability of fixed income mathematics. Written for the reader with a general mathematics background, this self-teaching book is suffused with examples that also make it a handy reference guide. It should serve as a gateway to financial mathematics and to increased competence in business analysis.

• An easy-to-understand introduction to the mathematics of common fixed income instruments
• Offers students explanations, exercises, and examples without demanding sophisticated mathematics
• Uses international comparisons to illustrate how interest is compounded

Audience: Professional Insurance and other actuarials who invest in bonds and who are concerned with inflation, asset-liability management, the time value of money, interest rates, rates of return, risk, and investment income; people seeking a general introduction or overview of the subject and MBA students.

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Product Details

  • ISBN-13: 9780127817217
  • Publisher: Elsevier Science
  • Publication date: 5/1/2003
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 344
  • Product dimensions: 0.94 (w) x 9.00 (h) x 6.00 (d)

Meet the Author

Robert Zipf has more than 30 years experience in the financial field, with such companies as John Hancock Mutual Life Insurance Company, IBM, Merrill Lynch, and AMBAC Indemnity Corporation. For many years, he has led seminars in municipal bonds for entry level professionals, and since 1993 has led seminars on municipal bonds and fixed income mathematics at The FT New York Institute of Finance, now FT Knowledge Financial Learning. Mr. Zipf has written two books, How Municipal Bonds Work, and How the Bond Market Works, Third Edition, and has published articles in several municipal bond related publications. He is a member of The Municipal Bond Club of New York, the American Economic Association, and The Municipal Forum of New York, where he also served as President.

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Table of Contents

Introduction; Interest; Compound Interest; Present Value; Annuities Certain; Bond Price Calculation; Future Value of Annuity; Accrued Interest; Discount Securities; Calculations for Other Securities; Quotations; Types of Yields; Sources of Return; Volatility and Its Measures; Duration' Convexity; Calculus Derivation; Probability Applications; Term Structure of Interest Rates; Uncertain and Variable Cash Flows; Mortgage Backed Securities; Futures; Options; Bibliography.

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