Fixed Income Mathematics
Published on 8. June 2003
Book
Hardback
366 pages
978-0-12-781721-7 (ISBN)
Description
Fixed Income Mathematics is an easy-to-understand introduction to the mathematics of common fixed income instruments. This book offers explanations, exercises, and examples without demanding sophisticated mathematics from the reader. Not only does the author use his business and teaching experience to highlight the fundamentals of investment and management decision-making, but he also offers questions and exercises that suggest the applicability of fixed income mathematics.
Written for the reader with a general mathematics background, this self-teaching book is suffused with examples that also make it a handy reference guide. It should serve as a gateway to financial mathematics and to increased competence in business analysis. International comparisons are used to illustrate how interest is compounded.
This text will be a valuable resource for professional insurance and other actuarials who invest in bonds and who are concerned with inflation, asset-liability management, the time value of money, interest rates, rates of return, risk, and investment income. It will also appeal to MBA students and anyone seeking a general introduction or overview of the subject.
Written for the reader with a general mathematics background, this self-teaching book is suffused with examples that also make it a handy reference guide. It should serve as a gateway to financial mathematics and to increased competence in business analysis. International comparisons are used to illustrate how interest is compounded.
This text will be a valuable resource for professional insurance and other actuarials who invest in bonds and who are concerned with inflation, asset-liability management, the time value of money, interest rates, rates of return, risk, and investment income. It will also appeal to MBA students and anyone seeking a general introduction or overview of the subject.
More details
Language
English
Place of publication
San Diego
United States
Publishing group
Elsevier Science Publishing Co Inc
Target group
Professional and scholarly
Professional Insurance and other actuarials who invest in bonds and who are concerned with inflation, asset-liability management, the time value of money, interest rates, rates of return, risk, and investment income; people seeking a general introduction or overview of the subject and MBA students.
Dimensions
Height: 229 mm
Width: 152 mm
Weight
600 gr
ISBN-13
978-0-12-781721-7 (9780127817217)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
Person
Robert Zipf has more than 30 years experience in the financial field, with such companies as John Hancock Mutual Life Insurance Company, IBM, Merrill Lynch, and AMBAC Indemnity Corporation. For many years, he has led seminars in municipal bonds for entry level professionals, and since 1993 has led seminars on municipal bonds and fixed income mathematics at The FT New York Institute of Finance, now FT Knowledge Financial Learning. Mr. Zipf has written two books, How Municipal Bonds Work, and How the Bond Market Works, Third Edition, and has published articles in several municipal bond related publications. He is a member of The Municipal Bond Club of New York, the American Economic Association, and The Municipal Forum of New York, where he also served as President.
Content
Introduction; Interest; Compound Interest; Present Value; Annuities Certain; Bond Price Calculation; Future Value of Annuity; Accrued Interest; Discount Securities; Calculations for Other Securities; Quotations; Types of Yields; Sources of Return; Volatility and Its Measures; Duration' Convexity; Calculus Derivation; Probability Applications; Term Structure of Interest Rates; Uncertain and Variable Cash Flows; Mortgage Backed Securities; Futures; Options; Bibliography.