Description
MATH 232. FINANCIAL MATHEMATICS. This is an introduction to interest theory and the mathematics of investment. The topics include interest rates, valuation of annuities, loan repayment, valuation of bonds, rates of return, term structure, and cash-flow duration and immunization. This course is intended to prepare students for the actuarial exam FM/2. Prerequisites: Mathematics 141 or 161; and Accounting 201. Corequisite: Finance 202. Fall semester only, three hours.