Financial Mathematics for Actuaries: Updated Edition

For this latest updated edition, a whole section in the chapter on bond management has been revised, extended and placed under a new heading called Immunization Strategies.

Contents
About the Authors v
Preface to the Updated Edition vii
Preface to the 1st Edition ix
List of Mathematical Symbols xi

Chapter 1 Interest Accumulation and Time Value of Money 1
Chapter 2 Annuities 39
Chapter 3 Spot Rates, Forward Rates and the Term Structure 73
Chapter 4 Rates of Return 99
Chapter 5 Loans and Costs of Borrowing 141
Chapter 6 Bonds and Bond Pricing 181
Chapter 7 Bond Yields and the Term Structure 207
Chapter 8 Bond Management 239
Chapter 9 Stochastic Interest Rates 285
Appendix A Review of Mathematics and Statistics 307