Download Financial and Insurance Formulas by Tomas Cipra PDF

By Tomas Cipra

This survey comprises greater than 3,000 formulation and strategies from the sphere of finance and coverage arithmetic (as good as comparable formulation in arithmetic, likelihood thought, information, econometrics, index numbers, demography, stochastic procedures and time series). The formulation are more often than not appropriate in monetary and actuarial perform. Their mathematical point levels from uncomplicated ones in response to mathematics to very subtle concerns of upper arithmetic (e. g. stochastic calculus), yet they're often provided within the shape most often utilized in functions. motives and references to comparable elements of the survey are given in order that possible simply browse and glance them up within the textual content; the special Index can be necessary for this function. The survey can be of profit for college kids, researchers and practitioners in finance and insurance.

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The Mathematics of Investing. Wiley, New York (1989) Chapter 8 Depreciation Abstract Chapter 8 is an overview of basic accounting depreciation methods. g. when using the accelerated depreciation, one can speed up the investment payback due to lower tax payments in the first years of an investment Denotation: P0 Pk n ok O s sk original cost of the given asset depreciated cost (book value) after k years depreciation time measured in years depreciation charges of the kth year accumulated depreciation: O = P0 – Pn = o1 + o2 + .

With increments proportional to the payment K; in fact it means an arithmetic decrease for δ < 0) = K an + δv(Ia)n−1 ; PVimm n PVimm ∞ =K FVimm = K sn + δ(Is)n−1 ; n δ 1 1+ i i (present and future value of arithmetically increasing immediate annuity of the type K, K(1 + δ), K(1 + 2δ), . . with increments proportional to the payment K) ¨ n + δ(D¨a)n−1 ; PVdue n =K a FVdue n = K s¨n + δq(D¨s)n−1 ; q q 1+δ n− i i (present and future value of arithmetically decreasing annuity-due of the type . . , K(1 + 2δ), K(1 + δ), K with decrements proportional to the payment K; in fact it means an arithmetic increase for δ < 0) PVdue ∞ =K 42 7 Annuities PVimm = K an + δ(Da)n−1 ; n PVimm ∞ =K FVimm = K sn + δq(Ds)n−1 ; n q 1 1+δ n− i i (present and future value of arithmetically decreasing immediate annuity of the type .

N (1 + it )t PB = k − 1 − Sk−1 , CFk where k is the first index such that Sk > 0 (k – 1 is the period just preceding the full recovery) (payback period of cash flows CF0 < 0, . , CFn > 0, where only inflows follow several initial outflows) min {PB} (payback period rule (see Sect. 4 Duration • Duration (expected life of cash flow system, also see Sect. g. in the framework of bond portfolio matching and immunization, see Sect. 2) Denotation: CFt y P(y) cash flow at time t internal rate of return IRR (yield to maturity YTM, see Sect.

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