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AMĀ 341. Mathematics of Finance, Insurance, and Pensions. 3 Credit Hours.

This course will review the mathematics of basic compound interest for determining the future amounts and present values of single and periodic investments. Advanced topics in the mathematics of finance will include complex annuities of fixed periodic amounts, annuities where the periodic payment amount increases arithmetically and/or geometrically, bonds, including duration analyses, investment rates of return, both dollar- and time-weighted, and reverse mortgages. Topics in the mathematics of insurance will include the development of mortality tables and computation functions for the determination of the present and accumulated values of life annuities, premium determination, and settlement payment options. Topics in the mathematics of pensions will include the mathematics of social security, defined benefit and defined contribution pension plans. Students receiving credit for AM 340 or AM 421 will not receive credit for this course.
Prerequisites: MATH 110 or equivalent
Session Cycle: Fall
Yearly Cycle: Alternate Years.