FINANCIAL AND ACTUARIAL SCIENCE (4 Credits)
Learning Outcomes:
On successful completion of this course, student will be able to: LO1 – Discover the basic mathematical techniques used to solve financial mathematics problems; LO2 – Practice the concepts of interest rates i.e.: effective, simple, compound, nominal, discount and force of interest to solve given interest problems; LO3 – Analyze the annuities concepts i.e.: annuity due, annuity immediate, life annuities and their relationship with interest, present, future value, perpetuities and Discounted Cash Flow for given problems; LO4 – Calculate the payment needed to pay off a loan with equal payments using amortization, sinking fund, bonds, interest rate swaps, and interest rate sensitivity.
Topics:
- Sinking Funds;
- Bonds;
- Annuities;
- Solving Problems in Interest;
- Interest Rate Sensitivity;
- Yield Rates;
- Amortization Schedules;
- Exact Asset Matching and Swaps;
- Measuring Interest;
- Overview and Mathematical Prerequisites.
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