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Financial Mathematics for Actuaries - mysmu.edu
mysmu.eduFinancial Mathematics for Actuaries Chapter 1 Interest Accumulation and Time Value of Money 1. Learning Objectives 1. Basic principles in calculation of interest accumulation 2. Simple and compound interest ... nal rates of interest without taking into account their …
Financial Mathematics for Actuaries - mysmu.edu
www.mysmu.eduLearning Objectives 1. Macaulay duration and modified duration 2. Duration and interest-rate sensitivity 3. Convexity 4. Some rules for duration calculation
Financial Mathematics for Actuaries - mysmu.edu
www.mysmu.edu• The accumulated value of the annuity at time n is denoted by snei or sne. • This is the future value of ane at time n.Thus,wehave sne = ane ×(1+i) n = (1+ i)n −1 i. (2.2) • If the annuity is of level payments of P, the present and future values