This is an undergraduate textbook on the basic aspects of
personal savings and investing with a balanced mix of mathematical
rigor and economic intuition. It uses routine financial
calculations as the motivation and basis for tools of elementary
real analysis rather than taking the latter as given. Proofs using
induction, recurrence relations and proofs by contradiction are
covered. Inequalities such as the Arithmetic-Geometric Mean
Inequality and the Cauchy-Schwarz Inequality are used. Basic topics
in probability and statistics are presented. The student is
introduced to elements of saving and investing that are of
life-long practical use. These include savings and checking
accounts, certificates of deposit, student loans, credit cards,
mortgages, buying and selling bonds, and buying and selling
stocks.
The book is self contained and accessible. The authors follow a
systematic pattern for each chapter including a variety of examples
and exercises ensuring that the student deals with realities,
rather than theoretical idealizations. It is suitable for courses
in mathematics, investing, banking, financial engineering, and
related topics.
General
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