MATH 630: Actuarial Mathematics (3)

This course is an introduction to some of the notions and computations in actuarial mathematics. Many computations are associated with compound interest with applications to bank accounts, mortgages, pensions, bonds, and annuities. Life contingencies are considered for annuities and insurance. Some introduction to option pricing is given, particularly the Black-Scholes formula. This course provides the background material needed for some of the initial examinations given by the societies for actuaries, including the Financial Mathematics Exam. Prerequisite: MATH 526 or MATH 627 or a comparable course in probability. LEC
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