MAT 430 MATHEMATICS OF COMPOUND INTEREST
Nominal and effective rates of interest and discount, force of interest, accumulated value factors and present value factors; annuities certain, including continuous annuities, increasing and decreasing annuities, in which the payment frequency is not the same as the frequency at which interest is compounded and perpetuities; amortization schedules and sinking funds, including the determination of outstanding principal, split of payments into principal and interest, and the determination of required period payment; bonds and related securities, including bound price formula, bound accounting and the split of periodic payment into the amortization and interest. Determination of fund yield rates and effective rates of return using time-weighted and dollar-weighted methods. Prerequisite: MAT 267.