This book has been organised in the form of 27 chapters and 9 appendices giving tables such as logarithm tables, mortality tables, and etc.
Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance.
A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision − making on theoretical and practical problems of banking and insurance sector.
The primary objective of writing this book is to provide an insight into the mathematical concepts essential for the students of commerce and management discipline. Even professionals form banking and insurance sector will find this book useful.
This book has been brought out as a consequence of lectures given by the author to the management students of GGSIP University, Delhi.
The author has taken into consideration the difficulty faced by the students, since there has been always lack of sufficient resources on this emerging field. This is book is unique in its comprehensive coverage of topics.
|Book Content of Financial Mathematics
|1. Permutation and Combination
3. Simple Interest
4. Compound Interest
5. Nominal and Effective Rates of Interest
6. Equation of Value
9. Bills of Exchange
10. Immediate Annuity
11. Annuity Due
12. Deferred Annuity
13. Perpetuity and General Annuity
14. Amortisation of Loan
15. Sinking Fund
16. Leasing, Capital Expenditure and Bond
17. Theory of Probability
18. Construction of Mortality Table
19. A Complete Mortality Table
20. Probabilities on Survival and Death
21. Well-known Mortality Tables
22. Rate-making in Insurance
23. Determination of Net Single Premium
24. Determination of Net Level Premium
25. Determination of Premium for Annuity Plans
26. Determination of Gross Premium
27. Credibility Theory