introduction to financial mathematics advances in applied mathematics

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Introduction To Financial Mathematics

Author : Kevin J. Hastings
ISBN : 9781498723916
Genre : Mathematics
File Size : 72. 56 MB
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Introduction to Financial Mathematics is ideal for an introductory undergraduate course. Unlike most textbooks aimed at more advanced courses, the text motivates students through a discussion of personal finances and portfolio management. The author then goes on to cover valuation of financial derivatives in discrete time, using all of closed form, recursive, and simulation methods. The text covers nearly all of the syllabus topics of the Financial Mathematics Actuarial examination, providing students with the foundation they require for future studies and throughout their careers. It begins by covering standard material on the mathematics of interest, including compound interest, present value, annuities, loans, several versions of the rate of return on an investment, and interest in continuous time. The text explains how to value bonds at their issue dates, at coupon times, between coupon times, and in cases where the bonds are terminated early. Next, it supplies a rapid-fire overview of the main ideas and techniques of discrete probability, including sample spaces and probability measures, random variables and distributions, expectation, conditional probability, and independence. The author introduces the basic terminology of stocks and stock trading. He also explains how to derive the rate of return on a portfolio and how to use the idea of risk aversion to model the investor tradeoff between risk and return. The text also discusses the estimation of parameters of asset models from real data. The text closes with a detailed discussion of how to value financial derivatives using anti-arbitrage assumptions. The one-step and multi-step cases are covered, and exotic options such as barrier options are also introduced, to which simulation methods are applied. Many of the examples in the book involve numerical solution of complicated non-linear equations; others ask students to produce algorithms which beg to be implemented as programs. For maximum flexibility, the author has produced the text without adhering to any particular computational platform. A digital version of this text is also available in the form of Mathematica notebooks that contain additional content.

An Undergraduate Introduction To Financial Mathematics Third Edition

Author : J Robert Buchanan
ISBN : 9789814407465
Genre : Mathematics
File Size : 62. 68 MB
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This textbook provides an introduction to financial mathematics and financial engineering for undergraduate students who have completed a three- or four-semester sequence of calculus courses. It introduces the theory of interest, discrete and continuous random variables and probability, stochastic processes, linear programming, the Fundamental Theorem of Finance, option pricing, hedging, and portfolio optimization. This third edition expands on the second by including a new chapter on the extensions of the Black-Scholes model of option pricing and a greater number of exercises at the end of each chapter. More background material and exercises added, with solutions provided to the other chapters, allowing the textbook to better stand alone as an introduction to financial mathematics. The reader progresses from a solid grounding in multivariable calculus through a derivation of the Black-Scholes equation, its solution, properties, and applications. The text attempts to be as self-contained as possible without relying on advanced mathematical and statistical topics. The material presented in this book will adequately prepare the reader for graduate-level study in mathematical finance.

Crc Standard Mathematical Tables And Formulae

Author : Daniel Zwillinger
ISBN : 9781420035346
Genre : Mathematics
File Size : 28. 38 MB
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A perennial bestseller, the 30th edition of CRC Standard Mathematical Tables and Formulae was the first "modern" edition of the handbook - adapted to be useful in the era of personal computers and powerful handheld devices. Now this version will quickly establish itself as the "user-friendly" edition. With a detailed table of contents and an extensive index listing over 6,000 entries, the 31st edition of this hugely successful handbook makes information even easier to locate. New in the 31st edition: Game theory and voting power Heuristic search techniques Quadratic fields Reliability Risk analysis and decision rules A table of solutions to Pell's equation A table of irreducible polynomials in Z2[x] An interpretation of powers of 10 A collection of "proofs without words" Representations of groups of small order Counting principles Tesselations and tilings ...and much more! An indispensable, up-to-date resource, CRC Standard Mathematical Tables and Formulae, 31st Edition makes it effortless to find the equations, tables, and formulae you need most often.

Pocket Book Of Integrals And Mathematical Formulas 5th Edition

Author : Ronald J. Tallarida
ISBN : 9781498704762
Genre : Mathematics
File Size : 72. 88 MB
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Pocket Book of Integrals and Mathematical Formulas, 5th Edition covers topics ranging from precalculus to vector analysis and from Fourier series to statistics, presenting numerous worked examples to demonstrate the application of the formulas and methods. This popular pocket book is an essential source for students of calculus and higher mathematics courses. It also provides an easy-to-use, accessible reference for mathematicians, engineers, scientists, and others seeking vital mathematical formulas, concepts, and definitions. Enlarging the type without sacrificing special topics involving financial mathematics and number theory, this 5th Edition: Includes several classic calculus applications that illustrate the power and practical use of calculus Discusses an interesting offshoot of Fermat’s last theorem, namely, "near misses" Reformats and revises the table of integrals for improved clarity and accuracy Through careful selection of topics and detail, Pocket Book of Integrals and Mathematical Formulas, 5th Edition remains a portable yet comprehensive resource for students and professionals, containing the most important mathematical formulas for engineering and scientific applications.

Financial Mathematics

Author : Giuseppe Campolieti
ISBN : 9781439892428
Genre : Business & Economics
File Size : 53. 59 MB
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Versatile for Several Interrelated Courses at the Undergraduate and Graduate Levels Financial Mathematics: A Comprehensive Treatment provides a unified, self-contained account of the main theory and application of methods behind modern-day financial mathematics. Tested and refined through years of the authors’ teaching experiences, the book encompasses a breadth of topics, from introductory to more advanced ones. Accessible to undergraduate students in mathematics, finance, actuarial science, economics, and related quantitative areas, much of the text covers essential material for core curriculum courses on financial mathematics. Some of the more advanced topics, such as formal derivative pricing theory, stochastic calculus, Monte Carlo simulation, and numerical methods, can be used in courses at the graduate level. Researchers and practitioners in quantitative finance will also benefit from the combination of analytical and numerical methods for solving various derivative pricing problems. With an abundance of examples, problems, and fully worked out solutions, the text introduces the financial theory and relevant mathematical methods in a mathematically rigorous yet engaging way. Unlike similar texts in the field, this one presents multiple problem-solving approaches, linking related comprehensive techniques for pricing different types of financial derivatives. The book provides complete coverage of both discrete- and continuous-time financial models that form the cornerstones of financial derivative pricing theory. It also presents a self-contained introduction to stochastic calculus and martingale theory, which are key fundamental elements in quantitative finance.

Risk Neutral Pricing And Financial Mathematics

Author : Peter M. Knopf
ISBN : 9780128017272
Genre : Business & Economics
File Size : 89. 21 MB
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Risk Neutral Pricing and Financial Mathematics: A Primer provides a foundation to financial mathematics for those whose undergraduate quantitative preparation does not extend beyond calculus, statistics, and linear math. It covers a broad range of foundation topics related to financial modeling, including probability, discrete and continuous time and space valuation, stochastic processes, equivalent martingales, option pricing, and term structure models, along with related valuation and hedging techniques. The joint effort of two authors with a combined 70 years of academic and practitioner experience, Risk Neutral Pricing and Financial Mathematics takes a reader from learning the basics of beginning probability, with a refresher on differential calculus, all the way to Doob-Meyer, Ito, Girsanov, and SDEs. It can also serve as a useful resource for actuaries preparing for Exams FM and MFE (Society of Actuaries) and Exams 2 and 3F (Casualty Actuarial Society). Includes more subjects than other books, including probability, discrete and continuous time and space valuation, stochastic processes, equivalent martingales, option pricing, term structure models, valuation, and hedging techniques Emphasizes introductory financial engineering, financial modeling, and financial mathematics Suited for corporate training programs and professional association certification programs

Introduction To Quantitative Finance

Author : Robert R. Reitano
ISBN : 9780262303989
Genre : Mathematics
File Size : 81. 13 MB
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This text offers an accessible yet rigorous development of many of the fields of mathematics necessary for success in investment and quantitative finance, covering topics applicable to portfolio theory, investment banking, option pricing, investment, and insurance risk management. The approach emphasizes the mathematical framework provided by each mathematical discipline, and the application of each framework to the solution of finance problems. It emphasizes the thought process and mathematical approach taken to develop each result instead of the memorization of formulas to be applied (or misapplied) automatically. The objective is to provide a deep level of understanding of the relevant mathematical theory and tools that can then be effectively used in practice, to teach students how to "think in mathematics" rather than simply to do mathematics by rote.Each chapter covers an area of mathematics such as mathematical logic, Euclidean and other spaces, set theory and topology, sequences and series, probability theory, and calculus, in each case presenting only material that is most important and relevant for quantitative finance. Each chapter includes finance applications that demonstrate the relevance of the material presented. Problem sets are offered on both the mathematical theory and the finance applications sections of each chapter. The logical organization of the book and the judicious selection of topics make the text customizable for a number of courses. The development is self-contained and carefully explained to support disciplined independent study as well. A solutions manual for students provides solutions to the book's Practice Exercises; an instructor's manual offers solutions to the Assignment Exercises as well as other materials.

Introduction To Actuarial And Financial Mathematical Methods

Author : Stephen Garrett
ISBN : 9780128004913
Genre : Business & Economics
File Size : 73. 11 MB
Format : PDF, ePub
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This self-contained module for independent study covers the subjects most often needed by non-mathematics graduates, such as fundamental calculus, linear algebra, probability, and basic numerical methods. The easily-understandable text of Introduction to Actuarial and Mathematical Methods features examples, motivations, and lots of practice from a large number of end-of-chapter questions. For readers with diverse backgrounds entering programs of the Institute and Faculty of Actuaries, the Society of Actuaries, and the CFA Institute, Introduction to Actuarial and Mathematical Methods can provide a consistency of mathematical knowledge from the outset. Presents a self-study mathematics refresher course for the first two years of an actuarial program Features examples, motivations, and practice problems from a large number of end-of-chapter questions designed to promote independent thinking and the application of mathematical ideas Practitioner friendly rather than academic Ideal for self-study and as a reference source for readers with diverse backgrounds entering programs of the Institute and Faculty of Actuaries, the Society of Actuaries, and the CFA Institute

Pocket Book Of Integrals And Mathematical Formulas 4th Edition

Author : Ronald J. Tallarida
ISBN : 1420063073
Genre : Mathematics
File Size : 63. 6 MB
Format : PDF, Kindle
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Convenient Organization of Essential Material so You Can Look up Formulas Fast Containing a careful selection of standard and timely topics, the Pocket Book of Integrals and Mathematical Formulas, Fourth Edition presents many numerical and statistical tables, scores of worked examples, and the most useful mathematical formulas for engineering and scientific applications. This fourth edition of a bestseller provides even more comprehensive coverage with the inclusion of several additional topics, all while maintaining its accessible, clear style and handy size. New to the Fourth Edition • An expanded chapter on series that covers many fascinating properties of the natural numbers that follow from number theory • New applications such as geostationary satellite orbits and drug kinetics • An expanded statistics section that discusses nonlinear regression as well as the normal approximation of the binomial distribution • Revised format of the table of integrals for easier use of the forms and functions Easy to Use on the Go The book addresses a range of areas, from elementary algebra, geometry, matrices, and trigonometry to calculus, vector analysis, differential equations, and statistics. Featuring a convenient, portable size, it is sure to remain in the pockets or on the desks of all who use mathematical formulas and tables of integrals and derivatives.

Introduction To Radar Analysis Second Edition

Author : Bassem R. Mahafza
ISBN : 9781498761109
Genre : Computers
File Size : 48. 56 MB
Format : PDF, ePub
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The 2nd Edition of this popular textbook is a major revision. It is written within the context of communication theory as well as the theory of signals and noise. Part I bridges the gap between communication theory, signals and noise and radar system analysis. Part II is on radar subsystems and associated topics and includes most common radar signal processing techniques, the theory of radar detection, coherent and non-coherent integration, and radar clutter analysis. Part III of this Edition will analyze special topics in radar systems. Many new exercises are included and the author provides comprehensive easy to follow mathematical derivations of all key equations and formulas.

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