Financial Mathematics for Actuaries: Updated Edition is an introductory textbook on the mathematics of interest rates. It is written at a level of rigor required of students who major in actuarial science and prepares them for further analysis of financial instruments. This book emphasizes an intuitive treatment of the mathematics of finance and insurance, with a particular focus on applications. Students will find many illustrative examples that apply mathematical techniques to financial products and personal financial management.
For this latest updated edition, a whole section in the chapter on bond management has been revised, extended and placed under a new heading called Immunization Strategies.
Ch1 Interest Accumulation and Time Value of Money
Ch2 Annuities
Ch3 Spot Rates, Forward Rates and the Term Structure
Ch4 Rates of Return
Ch5 Loans and Costs of Borrowing
Ch6 Bonds and Bond Pricing
Ch7 Bond Yields and the Term Structure
Ch8 Bond Management
Ch9 Stochastic Interest Rates
◎作者:Wai-Sum Chan
現職:The Chinese University of Hong Kong
◎作者:Yiu-Kuen Tse
現職:Singapore Management University