FINANCIAL MATHEMATICS

Catalog description

This course is designed to prepare students for the Society of Actuaries Exam FM ( Financial Mathematics) This course will develop knowledge of the fundamental concepts of financial mathematics and how these concepts are applied in the time of value of money, loans, bonds and general cash flows and portfolios. General theories of interest such as annuities, yield rates, and amortization will be covered. Bonds and other securities and additional topics in financial analysis such as determining interest rates and interest rate swaps will be covered. Prerequisites: MATH1800, MATH1850, MATH1877 or MATH1875 (4 credits)