Financial Literacy: Introduction to the Mathematics of Interest, Annuities, and Insurance / Edition 402 available in Paperback
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Financial Literacy is a carefully written, lively, and innovative text that introduces students to the mathematics of interest, annuities, and insurance. Requiring only a background in high school algebra, the book bridges the distance between a rigorous mathematical approach and a formulaic approach to the subject. Financial Literacy is notable for its innovative approach, tested over the years in the classroom, which makes some hard and cumbersome topics much easier to understand and apply. Included are hundreds of examples and solved problems, as well as several hundred exercises backed up by a solutions manual. As well as being ideal for an introductory course in the mathematics of finance, Financial Literacy is suitable for teaching quantitative reasoning by focusing on a particular area of study rather than presenting a smorgasbord of unrelated topics.
|Edition description:||402nd ed.|
|Product dimensions:||5.54(w) x 8.14(h) x 1.23(d)|
About the Author
Kenneth Kaminsky is Professor of Math, Augsburg College, Minnesota.
Table of Contents
Chapter 1 Preface Chapter 2 Part I- Payments Certain: Chapter 3 Variations on the Theme An = P(1 + i) n: Some General Principles of Compound Interest: Preliminaries; Introduction to Compound Interest; Time Diagrams, Equations of Value, and Focal Dates; Depreciation; Summary of Formulas Chapter 4 Mixing it Up: Nominal Rages of Interest, Multiple Deposits and withdrawals, and More: Nominal Rates; Multiple Deposits/Withdrawals; A More General Look at Equations of Value and Focal Dates; Effective Rates; Equivalent rates; Comparing Nominal Rate Chapter 5 Introduction to Annuities: Regular Annuities and Geometric Sums; A General Formula for Regular Annuities; Rates of Change and Average Rates of Change; Summary of Formulas Chapter 6 More General Annuities: Non-Regular Annuities; Annuities Whose Payments Increase/Decrease by a Fixed Percentage; Perpetuities; Perpetuities Increasing or Decreasing by a Fixed Percentage; Another Application of Annuities- Bonds; Summary of Formulas Chapter 7 Amortization and Sinking Funds: Introduction; Amortization and Outstanding Principal; Amortization Schedules; Sinking Fund Schedules; Yield Rates; Summary of Formulas Chapter 8 Part II- Life Contingencies: Chapter 9 Probability & The Mortality Table: What is Probability?; The Mortality Table; Probability Distributions for Ages at Death; Average Value of a Variable; The Force of Mortality; Summary of Formulas Chapter 10 Life Annuities: Introduction; Pure Endowments; Life Annuities; Annuities with Payments Increasing/Decreasing by a Fixed Percentage; Summary of Formulas Chapter 11 Life Insurance: Introduction; How Life Insurance Works; A General Formula for the Net Single Premium for Life Insurance; Policies with Benefits Increasing/Decreasing by a Fixed Percentage; Summary of Formulas Chapter 12 Loose Ends: Reserves & Gross Premiums: Introduction; Reserves; Gross Premiums; Summary of Formulas Chapter 13 Review Problems with Solutions Chapter 14 Chapter Key for Review Problems Chapter 15 Tables I-IV Chapter 16 Answers to Most Exercises Chapter 17 Bibliography Chapter 18 About the Author Chapter 19 Index