Mastering Financial Mathematics in Microsoft Excel: A Practical Guide for Business Calculations / Edition 2

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A practical guide for business calculations

Mastering Financial Mathematics in Microsoft © Excel provides a comprehensive set of tools, methods and formulas which apply Excel to solving mathematical problems.

The book:

  • Explains basic calculations for mathematical finance
  • Shows how to use formulas using straightforward Excel templates
  • Provides a CD of basic templates

This fully revised and updated guide is an essential companion for anyone involved in finance, from company accountants, through to analysts, treasury managers and business students. Explaining basic calculations and using examples and exercises, the book covers:

  • Cash flows
  • Bonds calculations and bonds risks
  • Amortization and depreciation
  • Forward interest rates and futures
  • Foreign exchange
  • Valuation
  • Leasing

Mastering Financial Mathematics in Microsoft Excel is a practical guide to using Excel for financial mathematics. This new edition includes:

  • Excel 2007
  • Addition of a glossary of key terms
  • Functions list in English and Euro languages
  • Continuity check on all formats, layouts and charts
  • More worked examples
  • Addition of exercises at the end of each chapter to help build models

About the authors

Alastair Day has worked in the finance industry for more than 25 years in treasury and marketing functions and was formerly a director of a vendor leasing company specializing in the IT and technology industries. After sale to a public company he established Systematic Finance as a consultancy specializing in:

■ Financial modelling – review, design, build and audit

■ Training in financial modelling, corporate finance, leasing and credit analysis on an in-house and public basis throughout Europe, Middle East, Africa, Asia and America

■ Finance and operating lease structuring as a consultant and lessor

Alastair is author of three modelling books published by FT Prentice Hall: Mastering Financial Modelling, Mastering Risk Modelling and Mastering Financial Mathematics in Excel, all of which are in their second editions, as well as other books and publications on financial analysis and leasing.

Alastair has a degree in Economics and German from London University and an MBA from the Open University Business School.

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Product Details

  • ISBN-13: 9780273730330
  • Publisher: FT Press
  • Publication date: 7/21/2010
  • Series: Financial Times Series
  • Edition description: New Edition
  • Edition number: 2
  • Pages: 384
  • Product dimensions: 6.70 (w) x 9.40 (h) x 1.10 (d)

Meet the Author

Alastair Day has worked in the finance industry for 20 years in treasury and marketing functions. In 1990 he established Systematic Finance as a consultancy and financial lessor concentrating on the computer and communications industries. Alastair has a degree in Economics and German from London University, an MBA from the Open University Business School, and is an associate lecturer in corporate finance with the OUBS. He is the successful author of several books including Mastering financial Modelling, Mastering Risk Modelling and The Financial Director’s Guide to Purchasing Leasing published by the Financial Times Prentice Hall and a range of software products. In addition, he develops and presents public and in-house courses on a range of topics including financial modelling, leasing, credit and cash flow analysis, and other corporate finance topics.

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Table of Contents

Table of Contents


About the Author



Warranty and disclaimer

1 Introduction


Common Excel errors

Systematic design method




2 Basic financial arithmetic

Simple interest

Compound interest

Nominal and effective rates

Continuous discounting

Conversions and comparisons



3 Cash flows

Net present value

Internal rate of return


XNPV periodic example

Modified internal rate of return



4 Bonds calculations


Cash flows

Zero coupons


Yield to call

Price and yield relationship

Yield curve pricing

Other yield measures

Yield measures



5 Bonds risks







6 Floating rate securities

Floating rates

Characteristics of interest rate securities

Yield evaluation

Coupon stripping



7 Amortization and depreciation


Full amortization

Delayed payments

Sum of digits

Straight line and declining balance depreciation

UK declining balance method

Double declining balance depreciation

French depreciation



8 Swaps


How swaps save money

Advantages of swaps

Terminating interest rate swaps

Implicit credit risk

Worked single currency swap


Cross currency swap

Worked example




9 Forward interest rates


Example forward rates

Hedging principles

Forward rate agreement

Yield curves



10 Futures

Futures market



Clearinghouse operation

Bond futures

Hedging mechanisms

Hedging example one

Hedging example two



11 Foreign exchange


Spot rates

Longer dates


Comparisons and arbitrage



12 Options



Underlying asset

Call options

Put options


Covered call

Insurance using a stock and a long put

Pricing models

Black Scholes model

Call put parity


Binomial models

Comparison to Black Scholes



13 Real options

Real options

Black Scholes model

Binomial model



14 Valuation

Valuation methods


Market methods

Multi-period dividend discount models

Free cash flow valuation

Adjusted present value

Economic profit



15 Leasing

Economics of leasing

Interest rates





Lessor evaluation

Lessee evaluation



16 Basic statistics


Descriptive statistics

Probability distributions

Sampling/Central Limit Theorem

Hypothesis testing

Correlation and regression

LINEST function






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