Compound Interest Simplified (eBook)
400 Seiten
Elsevier Science (Verlag)
978-1-4831-8638-2 (ISBN)
Compound Interest Simplified is designed to help the average student pass the Part C examination paper called Fundamentals of Compound Interest for the Associateship of the British Chartered Insurance Institute. This book is organized into two parts. Part I discusses concepts relevant to compound interest. These include annuities in arrears and advance, capital redemption policies, yields on life fund and redeemable securities and the convertibility of effective and nominal interests. Part II provides a more detailed discussion of simple interest, abstractions, and logs and limits. The book also provides a plan of study, tips on examination procedures, and preparations for examinations. This book will be of interest to students preparing of life insurance examinations and to students studying privately or by correspondence.
Front Cover 1
Compound Interest Simplified 4
Copyright Page 5
Table of Contents 6
Foreword 8
Preface 10
Plan of Study 14
PART I 22
CHAPTER 1. Growth and Accumulation of Money 24
EXAMPLES 30
PERCENTAGES 31
DECIMALIZING MONEY 31
EXAMPLES 31
CHAPTER 2. Discounts and Present Values 32
EXAMPLES 35
DECIMALIZING MONEY 36
CHAPTER 3. Annuities in Arrears 37
EXAMPLES 39
DECIMALIZING SIXPENCES AND THREEPENCES 41
SELF-TEST 41
CHAPTER 4. Annuities in Advance 42
EXAMPLES 45
EXERCISE 46
DECIMALIZING MONEY 46
CHAPTER 5. Deferred Annuities 48
EXAMPLES 53
DECIMALIZING PENNIES AND TENPENCES 54
CHAPTER 6. Perpetuities 55
EXAMPLES 64
DECIMALIZING EVEN PENNIES 66
EXAMPLES 67
CHAPTER 7. Deferred Perpetuities 68
EXERCISES 70
EXAMPLES 71
DECIMALIZING ODDS AND ENDS 71
EXAMPLES 72
CHAPTER 8. Some Odd Annuities 73
EVEN ANNUITIES 76
EXAMPLES 77
UNDECIMALIZING MONEY 77
EXAMPLE 78
CHAPTER 9. Even Odder Annuities 79
EXAMPLES 81
CHAPTER 10. Mortgages and other Loans repaid by Level Instalments 82
EXAMPLES 86
CHAPTER 11. Schedule Construction 88
STANDARD METHOD OF SCHEDULE CONSTRUCTION 91
SCHEDULE 92
EXAMPLES 93
CHAPTER 12. The Anatomy of the Annuity 94
SCHEDULE 97
EXAMPLES 98
SCHEDULE 101
MORE EXAMPLES 103
CHAPTER 13. Cumulative Sinking Funds 105
EXAMPLES 109
MORE EXAMPLES 110
MORE EXAMPLES 111
CHAPTER 14. Accumulation of a So-called Immediate Annuity 114
EXAMPLES 117
CHAPTER 15. Accumulation of an Annuity-due 119
EXAMPLES 122
CHAPTER 16. Relationships between Annuity-values and Accumulated Annuity-amounts 124
EXAMPLES 125
EXAMPLES 132
CHAPTER 17. Capital Redemption Policies: The Annual Premium 133
EXAMPLES 138
CHAPTER 18. Capital Redemption Policies: The Retrospective Policy Value 140
EXAMPLES 143
CHAPTER 19. Capital Redemption Policies: The Prospective Policy Value 145
EXAMPLES 152
CHAPTER 20. Equations of Value 156
EXAMPLES 162
CHAPTER 21. Capital Redemption Policies: The Paid-up Sum Assured 164
EXAMPLES 176
CHAPTER 22. Some Odd Capital Redemption Policies 179
ALTERING A POLICY DURING ITS TERM 183
MORE EXAMPLES 186
FLUCTUATING PREMIUMS PLANNED AT THE OUTSET 187
MORE EXAMPLES 189
CHAPTER 23. Interest, Yields, Capital and the Stock Exchange 190
EXERCISE 197
EXAMPLES 200
CHAPTER 24. Valuation of Redeemable Securities 201
EXAMPLES 206
CHAPTER 25. Yields on Redeemable Securities 210
EXAMPLES 215
CHAPTER 26. Yields on Life Funds 216
EXAMPLES 218
GROSS INTEREST YIELD ON THE LIFE FUND 219
MORE EXAMPLES 220
CHAPTER 27. Convertibility: Nominal and Effective Interest Rates 221
INTEREST RATE 4% PER YEAR 222
INTEREST RATE 2% PER HALF-YEAR 222
EXAMPLES 229
OPTIONAL EXAMPLES 231
CHAPTER 28. Preparing for the Examinations 233
PART II: The Syllabus in More Detail 240
CHAPTER 29. Simple Interest Confounded 242
CHAPTER 30. Abstractions 251
EXERCISE 262
EXAMPLES 262
CHAPTER 31. Logs and Limits 264
EXAMPLES 272
CHAPTER 32. More Discounts 274
EXERCISES 286
CHAPTER 33. More Abstractions 287
EXAMPLES 296
CHAPTER 34. More Anatomy 297
EXAMPLES 309
REPRODUCTIVE AND REMUNERATIVE RATES 309
CAPITAL OUTSTANDING AT END OF THE tth YEAR 315
EXERCISES 321
MORE EXAMPLES 322
CHAPTER 35. Per Ardua ad Astra 324
THE MUSICAL ANALOGY 326
THE EXPANDING POPULATION ANALOGY 328
THE GINGER BEER ANALOGY 331
THE EXPANDING UNIVERSE ANALOGY 332
APPENDIXES 338
APPENDIX I: A Brief Refresher Course on Solving Equations 340
APPENDIX 2: Rules of Indices in Algebra and Arithmetic 350
APPENDIX 3: Summing Geometric Progressions 364
EXERCISE 367
APPENDIX 4: Interpolation 368
EXAMPLES 373
APPENDIX 5: Decimalizing Shillings and Pence 375
1. CONVERSION TO DECIMALS 375
2. CONVERSION FROM DECIMALS 378
3. INTRODUCTION OF DECIMAL COINAGE IN 1971 380
4. SIGNIFICANT FIGURES 380
APPENDIX 6: Index and Summary of Equations 383
APPENDIX 7: Tables NOT hitherto supplied to C.I.I. Examination Candidates in the Examination room 397
APPENDIX 8: Tables as hitherto supplied to C.I.I. Examination Candidates at the Examination 400
Erscheint lt. Verlag | 17.5.2014 |
---|---|
Sprache | englisch |
Themenwelt | Recht / Steuern ► Wirtschaftsrecht |
Sozialwissenschaften ► Ethnologie | |
Sozialwissenschaften ► Politik / Verwaltung | |
Sozialwissenschaften ► Soziologie | |
Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Versicherungsbetriebslehre | |
ISBN-10 | 1-4831-8638-5 / 1483186385 |
ISBN-13 | 978-1-4831-8638-2 / 9781483186382 |
Haben Sie eine Frage zum Produkt? |
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