This book provides a thorough understanding of the fundamental
concepts of financial mathematics essential for the evaluation of
any financial product and instrument. Mastering concepts of present
and future values of streams of cash flows under different interest
rate environments is core for actuaries and financial economists.
This book covers the body of knowledge required by the Society of
Actuaries (SOA) for its Financial Mathematics (FM) Exam.The third
edition includes major changes such as an addition of an 'R
Laboratory' section in each chapter, except for Chapter 9. These
sections provide R codes to do various computations, which will
facilitate students to apply conceptual knowledge. Additionally,
key definitions have been revised and the theme structure has been
altered. Students studying undergraduate courses on financial
mathematics for actuaries will find this book useful. This book
offers numerous examples and exercises, some of which are adapted
from previous SOA FM Exams. It is also useful for students
preparing for the actuarial professional exams through self-study.
General
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