Author: Lovelock

Springer,2007

目录

Preface ........................................................ v
1 Simple Interest ............................................ 1
1.1 TheSimpleInterestTheorem ............................ 1
1.2 AmbiguitiesWhenInterestPeriodisMeasuredinDays ..... 8
1.3 Problems.............................................. 10
2 Compound Interest ........................................ 13
2.1 TheCompoundInterestTheorem ........................ 13
2.2 TimeDiagramsandCashFlows.......................... 23
2.3 Internal Rate of Return ................................. 26
2.4 TheRuleof72......................................... 36
2.5 Problems.............................................. 37
3 Inflation and Taxes ........................................ 45
3.1 Inflation............................................... 45
3.2 ConsumerPriceIndex(CPI)............................. 48
3.3 PersonalTaxes......................................... 50
3.4 Problems.............................................. 51
4 Annuities .................................................. 55
4.1 AnOrdinaryAnnuity................................... 55
4.2 AnAnnuityDue ....................................... 66
4.3 Perpetuities ........................................... 70
4.4 Problems.............................................. 71
5 Loans and Risks ........................................... 75
5.1 Problems.............................................. 79

6 Amortization .............................................. 83
6.1 AmortizationTables.................................... 83
6.2 PeriodicPayments...................................... 88
6.3 LinearInterpolation .................................... 94
6.4 Problems.............................................. 97
7 Credit Cards ..............................................101
7.1 CreditCardPayments ..................................101
7.2 CreditCardNumbers...................................108
7.3 Problems..............................................110
8 Bonds .....................................................113
8.1 NoncallableBonds......................................114
8.2 Duration..............................................126
8.3 ModifiedDuration......................................129
8.4 Convexity .............................................137
8.5 Treasury Bills..........................................139
8.6 PortfolioofBonds......................................141
8.7 Problems..............................................144
9 Stocks and Stock Markets .................................149
9.1 Buying and Selling Stock ................................151
9.2 ReadingTheWallStreetJournalStockTables.............160
9.3 Problems..............................................161
10 Stock Market Indexes, Pricing, and Risk ..................165
10.1 StockMarketIndexes...................................165
10.2 Rates of Return for Stocks and Stock Indexes ..............172
10.3 PricingandRisk .......................................175
10.4 PortfolioofStocks......................................186
10.5 Problems..............................................188
11 Options....................................................191
11.1 PutandCallOptions...................................192
11.2 Adjusting for Stock Splits and Dividends ..................196
11.3 OptionStrategies.......................................198
11.4 Put-CallParityTheorem................................208
11.5 HedgingwithOptions...................................211
11.6 ModelingStockMarketPrices ...........................215
11.7 PricingofOptions......................................220
11.8 TheBlack-ScholesOptionPricingModel ..................225
11.9 Problems..............................................238

A Appendix: Induction, Recurrence Relations, Inequalities...245
A.1 Mathematical Induction .................................245
A.2 RecurrenceRelations ...................................247
A.3 Inequalities............................................249
A.4 Problems..............................................252
B Appendix: Statistics .......................................255
B.1 SetTheory ............................................255
B.2 Probability ............................................256
B.3 RandomVariables......................................256
B.4 Moments..............................................271
B.5 JointDistributionofRandomVariables ...................275
B.6 Linear Regression ......................................277
B.7 EstimatesofParametersofRandomVariables .............280
B.8 Problems..............................................281
Answers .......................................................283
References.....................................................287
Index ..........................................................289

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