## Mathematics of Finance |

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### Common terms and phrases

accumulate age x American Experience Table amortization annual payment annual premium annual rent annum approximate arithmetical progression binomial theorem book value borrower building and loan calculate cent convertible cent effective cent interest cent payable semiannually common logarithms computed convertible semiannually cost debt depreciation charges discount dividends effective rate end of table endowment policy equal annual equation EXERCISES AND PROBLEMS Find the amount Find the present Find the value formula geometrical progression given half-yearly Hence Institute of Actuaries interest is converted interest rate investment rate loan association logarithms logio mantissa ment money is worth monthly payment months mortality table nominal rate obtain paid period present value probability purchase price pure endowment rate of interest redeemed redemption price simple interest single premium sinking fund method stock matures Table of Mortality taken at age term insurance terminal reserve tion valuation whole life insurance yearly

### Popular passages

Page 223 - The Integral Part of a logarithm is called the Characteristic, and the decimal part the Mantissa.

Page 220 - The logarithm of a quotient is equal to the logarithm of the dividend minus the logarithm of the divisor.

Page 220 - I. The logarithm of a product equals the sum of the logarithms of the factors.

Page 157 - The general formula for the number of combinations of n things taken r at a time is C(n,r) = r\(nr)\ We have to find the number of combinations of 12 things taken 9 at a time.

Page 243 - Elements of an arithmetical progression. Let a represent the first term, d the common difference, n the number of terms considered, I the nth, or last, term, and s the sum of the series.

Page 221 - Prop. 4. — The logarithm of any root of a number is the logarithm of the number divided by the number expressing the degree of the root. DEM. — Let a be the base, and x the logarithm of m. Then ar=m. Extracting the £th root we have a"= ^/m.

Page 114 - Engineers appointed to formulate principles and methods for the valuation of railroad property and other public utilities.

Page 266 - ... 3 per cent. ? 4£ per cent. ? 5 per cent. ? 6 per cent. ? 7 per cent. ? 7£ per cent. ? 8 per cent.? 9 per cent. ? 10 per cent.

Page 224 - We shall now proceed to show that the mantissa of the logarithm of a number is independent of the position of the decimal point.

Page 160 - They are said to be mutually exclusive when the occurrence of any one of them on a particular occasion excludes the occurrence of any other on that occasion.