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Financial and Insurance Formulas

  • Book
  • © 2010

Overview

Authors:
  1. Tomas Cipra

    1. , Dept. of Statistics, Charles University of Prague, Prague, Czech Republic

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  • Extensive survey of financial and insurance formulas applicable in practice
  • Rormulas are systematically sorted including explanations and references to related parts
  • Formulas are presented in the form that is the most frequent and conventional in practice
  • Detailed Index is helpful to look up in the text in an effective way
  • Formulas are self-contained since formulas of related disciplines are also given
  • Includes supplementary material: sn.pub/extras

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Table of contents (31 chapters)

  1. Front Matter

    Pages i-xv
    Download chapter PDF

  2. Financial Formulas

    1. Front Matter

      Pages 3-3
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    2. Introduction

      • Tomas Cipra
      Pages 1-2

    3. Simple Interest and Discount

      • Tomas Cipra
      Pages 5-10

    4. Compound Interest and Discount

      • Tomas Cipra
      Pages 11-16

    5. Continuous Interest and Discount

      • Tomas Cipra
      Pages 17-19

    6. Classical Analysis of Interest Rates

      • Tomas Cipra
      Pages 21-24

    7. Systems of Cash Flows

      • Tomas Cipra
      Pages 25-34

    8. Annuities

      • Tomas Cipra
      Pages 35-49

    9. Depreciation

      • Tomas Cipra
      Pages 51-53

    10. Financial Instruments

      • Tomas Cipra
      Pages 55-72

    11. Derivative Securities

      • Tomas Cipra
      Pages 73-89

    12. Utility Theory

      • Tomas Cipra
      Pages 91-93

    13. Rate of Return and Financial Risk

      • Tomas Cipra
      Pages 95-107

    14. Portfolio Analysis and CAPM Model

      • Tomas Cipra
      Pages 109-118

    15. Arbitrage Theory

      • Tomas Cipra
      Pages 119-122

    16. Financial Stochastic Analysis

      • Tomas Cipra
      Pages 123-139

  3. Insurance Formulas

    1. Front Matter

      Pages 141-141
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    2. Insurance Classification

      • Tomas Cipra
      Pages 143-148

    3. Actuarial Demography

      • Tomas Cipra
      Pages 149-164
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Keywords

About this book

Financial and insurance calculations become more and more frequent and helpful for many users not only in their profession life but sometimes even in their personal life. Therefore a survey of formulas of ?nancial and insurance mathematics that can be applied to such calculations seems to be a suitable aid. In some cases one should use instead of the term formula more suitable terms of the type method, p- cedure or algorithm since the corresponding calculations cannot be simply summed up to a single expression, and a verbal description without introducing complicated symbols is more appropriate. The survey has the following ambitions: • The formulas should be applicable in practice: it has motivated their choice for this survey ?rst and foremost. On the other hand it is obvious that by time one puts to use in practice seemingly very abstract formulas of higher mathematics, e.g. when pricing ?nancial derivatives, evaluating ?nancial risks, applying accou- ing principles based on fair values, choosing alternative risk transfers ARL in insurance, and the like. • The formulas should be error-free (though such a goal is not achievable in full) since in the ?nancial and insurance framework one publishes sometimes in a h- tic way various untried formulas and methods that may be incorrect. Of course, the formulas are introduced here without proofs because their derivation is not the task of this survey.

Reviews

From the reviews:

“As the book title says, it is mainly about mathematical formulas used in finance and insurance … . this is an easy-to-use, well-structured all-in-one survey, which is a must have for professionals practicing in finance and insurance areas, who have no time to sift through piles of information in order to get a necessary formula. Though it can not be viewed as a textbook, it is also highly recommended to students and teachers in applied mathematics.” (Georgiy Shevchenko, Zentralblatt MATH, Vol. 1200, 2011)

Authors and Affiliations

  • , Dept. of Statistics, Charles University of Prague, Prague, Czech Republic

    Tomas Cipra

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