ISBN(s): 979-8-89016-017-1 | 978-1-64756-616-6 | 979-8-89016-018-8
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This text is listed on the suggested course of reading for SOA Exam FM. It is also the required or recommended text in many college and university courses on the topic of interest theory.
Mathematics of Investment and Credit is a leading textbook covering the topic of interest theory. This textbook provides a complete treatment of the theory of interest, and its application for a wide variety of financial instruments. It emphasizes a direct-calculation approach to reaching numerical results, and uses a gentle, thorough pedagogic style.
As in many areas of mathematics, the subject of mathematics of investment has aspects that do not become outdated over time, but rather become the foundation upon which new developments are based. The traditional topics of compound interest and dated cash flow valuations, and their applications, are developed in the first five chapters of the book. In Chapters 6 to 10, several topics are introduced which have become of increasing importance in modern financial practice over the past number of years. The past four decades or so have seen a great increase in the use of derivative securities, particularly financial options.
This 8th edition expands on and updates the 7th edition’s coverage of options, particularly the binomial model for valuing options.
A digital solutions manual for the text comes with the purchase of this textbook.
Highlights and Details
- Contains a large number of worked examples (over 100)
- Over 400 end-of-chapter exercises for as much practice as you need
- Key formulas and definitions are highlighted
- Real world current events are included to demonstrate key concepts
About the Author
Samuel Broverman, Ph.D., ASA
Professor Samuel Broverman, PhD, ASA, brings 40+ years of university and exam prep teaching experience to this textbook. He has been a Professor of Actuarial Mathematics since 1978, first at The University of Texas at Austin until 1980 and since then at the University of Toronto. Professor Broverman is an ACTEX author who has written numerous textbooks and study guides widely used by students preparing for actuarial exams.
Your insightful thoughts, comprehensive approach and clarity of explanation to complex concepts especially, Financial Derivatives was invaluable. Your contribution to knowledge is indeed invaluable. Thank you so much.