2017-2018 Academic Catalog 
    
    May 06, 2024  
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2017-2018 Academic Catalog [Archived Catalog]

MATH 515 - Financial Mathematics I

Credits: Three (3)
Prerequisite: MATH 514
This course covers the mathematical theory of compound interest with applications to investments and corporate finance. Topics include amortization of loans sinking fund, price of bonds, amortization of premium, accumulation of discount, interest rate swaps and determinants of interest rates; the dollar weighted return, time-weighted rate of return, duration and convexity of cash flows; constructing an investment portfolio to fully immunize set of liability cash flows. MATH 514 and MATH 515 cover all of the learning objectives contained in Examination FM (Financial Mathematics) of the Society of Actuaries. A presentation of one project is required for the course.
Note: This course is for graduate students only
Cross-listed: ACSC 515
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