Mathematics: Fndmntls of Financial Math (OL1)

About MATH 2700 OL1

Students will be introduced to the basic ideas and algebraic structures of interest theory, time-value of money, annuities, loans, bonds, cash-flows and portfolios. Prerequisites: MATH 1224, MATH 1248 or MATH 1242.

Notes

Prereqs enforced by the system: MATH 1224 or 1242 or 1248; Open to Degree and PACE students; Asynchronous online

Section Description

Fundamentals of Financial Mathematics is a course designed to introduce students to the basic concepts of financial mathematics. Topics covered will come from, but are not limited to, the following list:
Module I. Time Value of Money (Topics from Chapter 1) o Simple and compounds rates of interest and discount o Nominal and effective rates of interest and discount o Force of interest o Present Value/Future Value/Current Value o Accumulation Functions
Module II. Annuities and Perpetuities (Topics from Chapter 2) o Annuity Due and Immediate o Increasing and Decreasing Payment Annuities o Terms of an Annuity
Module III. Mortgages and Loans (Topics from Chapter 3) o Principal, Interest, Term, Balance, etc. o Amortization o Sinking Funds
Module IV. Bond Concepts (Topics from Chapter 4) o Price, Redemption Value, Par Value/Face Value, Coupons, etc. o Term of a Bond o Yield Rate o Book value o Accumulation of Discount
Module V. Cash Flows, Portfolios, and Other Topics (Topics from Chapters 5 – 9) o Yield Rate/Rate of Return o Net Present Value o Duration and Volatility o Immunization

Section Expectation

Required Course Materials: Online Homework Access
You will need an access code for WebAssign online homework. The access code can be purchased directly from WebAssign once the course Brightspace page is open.
There is a free trial period (about 14 days, I believe) for WebAssign. I recommend taking advantage of the free trial period before purchasing anything. Once you purchase access to WebAssign, it is completely non-refundable.
Students will be expected to spend 6-9 hours per week on this class. This includes watching instructional videos, doing homework, and completing assessments (quizzes, exams, etc.).
This class is offered remotely. There is no need to travel to campus to take any of the quizzes or exams.

Evaluation

Grades will be based on several homework assignments (unlimited attempts), occasional quizzes, a midterm exam, and a final exam. Video-based proctoring such as Respondus Lockdown Browser and Respondus Monitor will be used for portions of quizzes/tests to ensure academic integrity.

Important Dates

Note: These dates may change before registration begins.

Courses may be cancelled due to low enrollment. Show your interest by enrolling.

Resources

• Parking
• PACE Course Pricing
• Textbooks