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 1248 or 1242; Open to Degree and PACE students; Asynchronous online System waitlisting enabled for this section.

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 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 o Annuity Due and Immediate o Increasing and Decreasing Payment Annuities o Terms of an Annuity

Module III. Mortgages and Loans o Principal, Interest, Term, Balance, etc. o Amortization o Sinking Funds

Module IV. Bond Concepts 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 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 in an asynchronous format. 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 may 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