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ASC 401 Financial Mathematics of Actuarial Science (3 credits)

This course provides an in depth study of the theory of interest. Topics that will be covered include: calculation of the effective rates of interest and discount, evaluation of accumulated and present values of fixed and variable annuities, solution of interest problems involving unknown time periods and rates, determination of yield rates, amortization of loans and sinking funds, calculation of the price of a bond, and valuation of securities. This course will prepare students for the actuarial science examination in financial mathematics which is co-sponsored by the Casualty Actuarial Society (Part 2) and the Society of Actuaries (Part FM).

Prerequisite: MAT 213.