Financial Mathematics For Actuarial Science: The Theory of Interest

Financial Mathematics for Actuarial Science: The Theory of Interest is concerned with the measurement of interest and the various ways interest affects what is often called the time value of money (TVM). Interest is most simply defined as the compensation that a borrower pays to a lender for the use of capital. The goal of this book is to provide the mathematical understandings of interest and the time value of money needed to succeed on the actuarial examination covering interest theory.Key FeaturesHelps prepare students for the SOA Financial Mathematics ExamProvides mathematical understanding of interest and the time value of money needed to succeed in the actuarial examination covering interest theoryContains many worked examples, exercises and solutions for practiceProvides training in the use of calculators for solving problemsA complete solutions manual is available to faculty adopters online Read more