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Course Information

FINANCIAL MATHEMATICS

About this Course

This course will describe, explain and discuss the basic concepts, calculations and simple applications of the mathematics used in the financial world. Its goal is to provide first exposure to actuarial students as basic knowledge before proceeding further to Advance Financial Mathematics course in the latter semesters of the Actuarial Science Program.

Course Syllabus

Syllabus Info
Interest Rate Measurement
- Interest Accumulation and Effective Rates of Interest.
- Present Value and Equation of Value.
- Nominal Rates of Interest.
- Effective and Nominal Rates of Discount.
- The Force of Interest
- Inflation and the Real rate of Interest.

Valuation of Annuities
- Annuity-immediate.
- Annuity-due
- Annuity values on any date.
- Perpetuities.
- Non-standard Terms and Interest Rates.
- Solving for the Number of Payment in an Annuity
- Solving for the Interest Rate in an Annuity.
- Annuity with Non-constant Payments.

Loan Repayment
- The Amortization Method of Loan Repayment.
- Amortization of a Loan with Level Payments.
- Deferring Payment Periods and Interest Conversion Periods.
- Varying Series of Payment.

Frequently Asked Questions

Course FAQ
Q1 : How long should I take to complete the course?
A1 : Advisable to spend 4 hours per week in this course.