Compound Interest Simplified - 1st Edition - ISBN: 9780080133003, 9781483186382

Compound Interest Simplified

1st Edition

The Commonwealth and International Library: Social Administration, Training, Economics, and Production Division

Authors: Guy E. Churchill
Editors: R Brown G. Chandler W. A. Davis
eBook ISBN: 9781483186382
Imprint: Pergamon
Published Date: 1st January 1969
Page Count: 400
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Description

Compound Interest Simplified is designed to help the average student pass the Part C examination paper called Fundamentals of Compound Interest for the Associateship of the British Chartered Insurance Institute. This book is organized into two parts. Part I discusses concepts relevant to compound interest. These include annuities in arrears and advance, capital redemption policies, yields on life fund and redeemable securities and the convertibility of effective and nominal interests. Part II provides a more detailed discussion of simple interest, abstractions, and logs and limits. The book also provides a plan of study, tips on examination procedures, and preparations for examinations. This book will be of interest to students preparing of life insurance examinations and to students studying privately or by correspondence.

Table of Contents


Foreword

Preface

Plan of Study

Part I

1 Growth and Accumulation of Money

2 Discounts and Present Values

3 Annuities in Arrears

4 Annuities in Advance

5 Deferred Annuities

6 Perpetuities

7 Deferred Perpetuities

8 Some Odd Annuities

9 Even Odder Annuities

10 Mortgages and other Loans repaid by Level Installments

11 Schedule Construction

12 The Anatomy of the Annuity

13 Cumulative Sinking Funds

14 Accumulation of a So-called Immediate Annuity

15 Accumulation of an Annuity-due

16 Relationships between Annuity-values and Accumulated Annuity-amounts

17 Capital Redemption Policies: The Annual Premium

18 Capital Redemption Policies: The Retrospective Policy Value

19 Capital Redemption Policies: The Prospective Policy Value

20 Equations of Value

21 Capital Redemption Policies: The Paid-up Sum Assured

22 Some Odd Capital Redemption Policies

23 Interest, Yields, Capital and the Stock Exchange

24 Valuation of Redeemable Securities

25 Yields on Redeemable Securities

26 Yields on Life Funds

27 Convertibility: Nominal and Effective Interest Rates

28 Preparing for the Examinations

Part II The Syllabus in More Detail

29 Simple Interest Confounded

30 Abstractions

31 Logs and Limits

32 More Discounts

33 More Abstractions

34 More Anatomy

35 Per Ardua ad Astra

Appendixes

1 A Brief Refresher Course on Solving Equations

2 Rules of Indices in Algebra and Arithmetic

3 Summing Geometric Progressions

4 Interpolation

5 Decimalizing Shillings and Pence

6 Index and Summary of Equations

7 Tables of Sn-|, Sn-|, and Pn-| at 2% and 4%

8 Tables of (1.02)n, (1.04)n, vn, and anm-| at 2% and 4%


Details

No. of pages:
400
Language:
English
Copyright:
© Pergamon 1969
Published:
Imprint:
Pergamon
eBook ISBN:
9781483186382

About the Author

Guy E. Churchill

About the Editor

R Brown

G. Chandler

Affiliations and Expertise

Canberra, Australia

W. A. Davis