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Financial, Commercial, and Mortgage Mathematics and Their Applications 2nd edition [Hardback]

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  • Formāts: Hardback, 456 pages, height x width: 235x156 mm, weight: 964 g, 1 Hardback
  • Izdošanas datums: 26-Sep-2014
  • Izdevniecība: Praeger Publishers Inc
  • ISBN-10: 1440830932
  • ISBN-13: 9781440830938
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Financial, Commercial, and Mortgage Mathematics and Their Applications 2nd editionPalielināt
  • Formāts: Hardback, 456 pages, height x width: 235x156 mm, weight: 964 g, 1 Hardback
  • Izdošanas datums: 26-Sep-2014
  • Izdevniecība: Praeger Publishers Inc
  • ISBN-10: 1440830932
  • ISBN-13: 9781440830938
Citas grāmatas par šo tēmu:
Permanent link: https://www.kriso.lv/db/9781440830938.html
Keywords:
Ideal for college students in intermediate finance courses, this book uniquely applies mathematical formulas to teach the underpinnings of financial and lending decisions, covering common applications in real estate, capital budgeting, and commercial loans. An updated and expanded version of the time-honored classic text on financial math, this book provides, in one place, a complete and practical treatment of the four primary venues for finance: commercial lending, financial formulas, mortgage lending, and resource allocation or capital budgeting techniques. With an emphasis on understanding the principles involved rather than blind reliance on formulas, the book provides rigorous and thorough explanations of the mathematical calculations used in determining the time value of money, valuation of loans by commercial banks, valuation of mortgages, and the cost of capital and capital budgeting techniques for single as well as mutually exclusive projects.

This new edition devotes an entire chapter to a method of evaluating mutually exclusive projects without resorting to any imposed conditions. Two chapters not found in the previous edition address special topics in finance, including a novel and innovative way to approach amortization tables and the time value of money for cash flows when they increase geometrically or arithmetically. This new edition also features helpful how-to sections on Excel applications at the end of each appropriate chapter.

Papildus informācija

Ideal for college students in intermediate finance courses, this book uniquely applies mathematical formulas to teach the underpinnings of financial and lending decisions, covering common applications in real estate, capital budgeting, and commercial loans.
Preface xi
Section One Mathematical Foundation 1(36)
Chapter One Mathematical Foundation
3(34)
Introduction
3(2)
Organization Of The Text
5(1)
Basic Mathematical Tools
6(1)
Introduction To Geometric Series
7(7)
Introduction To Arithmetic Series
14(1)
The Meaning Of The Number e
15(1)
Exponential Functions And Logarithmic Functions
16(2)
Basic Differential Calculus
18(8)
Taylor's Theorem
26(2)
Problems
28(8)
Summary
36(1)
Section Two Time Value Of Money 37(140)
Chapter Two The Time Value Of Money-Conventions And Definitions
39(6)
Conventions
40(4)
Summary
44(1)
Chapter Three Simple Rate Of Interest
45(12)
Future Value Of An Amount
45(2)
Present Value Of An Amount
47(1)
Definition Of An Annuity
48(1)
Future Value Of An Annuity
49(3)
Present Value Of An Annuity
52(1)
Problems With Solutions On Simple Rate Of Interest
53(3)
Summary
56(1)
Chapter Four The Time Value Of Money With Annual Compounding
57(12)
Future Value Of An Amount
57(3)
Present Value Of An Amount
60(1)
Determining Target Interest Rates And Periods
61(1)
Finding The Unknown Period
62(1)
Finding The Unknown Rate Of Interest
62(6)
Summary
68(1)
Chapter Five Time Value Of Money With An Annuity
69(12)
Future Value Of An Annuity
69(4)
Present Value Of An Annuity
73(1)
Present Value Of Perpetuity
74(1)
Mathematical Relationship Between Present And Future Value Of An Annuity
75(2)
Finding Unknowns K And N In Case Of Annuities
77(3)
Summary
80(1)
Chapter Six The Time Value Of Money With Multiple Compounding Periods Per Year
81(16)
Future Value Of An Amount
82(3)
Present Value Of An Amount
85(1)
Future Value Of An Annuity
86(1)
Present Value Of An Annuity
86(11)
Five-Minute Mathematics Of Time Value Of Money
92(5)
Chapter Seven Continuous Compounding
97(8)
Time Value Of Money Under Continuous Compounding
98(5)
Summary
103(2)
Chapter Eight Special Topics In Time Value Of Money
105(24)
Obtaining The Time Value Of Money For Fractional Periods
105(2)
Computing The Present And Future Values Of The Deposits Which Start m Periods Hence
107(2)
Deposits (Or Dividends Or Any Future Income Or Expense) (Growing At A Constant Rate, g)
109(1)
A Simple Procedure To Amortize A Loan
110(13)
Finding Time Value Of Money Using Financial Calculators
123(5)
Summary
128(1)
Chapter Nine Special Topics In Finance
129(48)
Time Value Of Money: The Case Of Arithmetic And Geometric Growth And Their Applications
129(2)
Present Value Of A Series Of Cash Flow With Finite And Infinite Geometric Growth
131(6)
Present Value Of Cash Flows With Arithmetic Growth
137(2)
Special Cases Under Arithmetic Growth
139(3)
Application Of Arithmetic And Geometric Growth
142(34)
Time Value Of Money Formulas
145(3)
Time Value Of Money Problems (Chapters 2 To 9)
148(28)
Suggested Readings
176(1)
Section Three Commercial Mathematics 177(36)
Chapter Ten Commercial Mathematics-I
179(16)
The Generalized Loan-Pricing Model
179(2)
From Borrower's Point Of View
181(1)
From Lender's Point Of View
182(13)
Computational Problems: Commercial Mathematics
189(6)
Chapter Eleven Commercial Mathematics-II
195(18)
Add-On Interest Loans
195(3)
A Very Important Point
198(2)
Repayment Plans On Loans
200(4)
Level Principal And Interest On The Balance Loans
204(8)
Computational Problems: Commercial Mathematics
205(2)
Additional Problems: Commercial Mathematics
207(5)
Suggested Readings
212(1)
Section Four Mortgage Mathematics 213(96)
Chapter Twelve Mortgage Mathematics
215(30)
Periodic Mortgage Payments
215(9)
Discount Points
224(4)
Fixed Rate Mortgage (FRM) Mathematics In 10 Minutes
228(2)
A Quick Guide To Obtain Various Measures In Fixed Rate Mortgage Problems Using Calculator
230(4)
Mortgage Theorems Under FRM
234(8)
Summary And Conclusion
242(1)
Notes
243(1)
Suggested Readings
243(2)
Chapter Thirteen Graduated Payment Mortgages
245(16)
Graduated Payment Mortgages With Constant Percentage Increases
245(5)
Mortgage Balance Remaining Under The GPM
250(2)
Interest Expense Under The GPM
252(6)
Mortgage Theorems Under GPM
258(3)
Chapter Fourteen Graduated Payment Mortgages With Constant Percentage Increases Through A Stipulated Period
261(10)
Computation Of The Mortgage Balance Remaining Under TGPM
264(1)
Separation Of Interest And Principal Payments And Computation Of Total Interest Paid Under TGPM
265(2)
Other Forms Of Graduated Payment Mortgages
267(2)
Summary
269(2)
Chapter Fifteen Adjustable Rate Mortgage (ARM)
271(10)
What Is An ARM?
271(1)
The Basic Features Of An ARM
272(6)
Types Of ARMS
278(3)
Chapter Sixteen Variable Rate Mortgage (VRM)
281(28)
What Is A VRM?
281(3)
Determination Of Interest Expense And Principal Remaining Under Adjustable Rate Mortgages
284(27)
Computational Problems: Mortgage Mathematics
288(7)
More Computational Problems
295(9)
Theoretical Problems: Mortgage Mathematics
304(5)
Section Five Capital Budgeting 309(104)
Chapter Seventeen Capital Budgeting And Long-Term Resource Allocation
311(16)
Required Inputs For The Capital Budgeting Decision
312(1)
Determination Of The Effect Of Working Capital On Cash Flows
312(1)
Estimation Of The Life Of The Project
313(1)
Estimation Of The Initial Investment
313(2)
Estimation Of Net Income
315(1)
Estimation Of Cash Flow
316(11)
Chapter Eighteen The Cost Of Capital
327(14)
The Cost Of Debt
327(6)
The Cost Of Preferred Stock
333(1)
The Cost Of Equity
334(5)
Note
339(2)
Chapter Nineteen Capital Budgeting Techniques
341(34)
Accounting Rate Of Return (ARR) Method
341(3)
The Payback Period Method
344(3)
The Net Present Value (NPV) Method
347(10)
The Internal Rate Of Return
357(10)
Problems With The Internal Rate Of Return
367(4)
Other Capital Budgeting Methods
371(4)
Chapter Twenty Relationship Between Payback Period And Net Present Value Methods
375(6)
Payback And NPV Relationship For Projects With Level Cash Flows
375(2)
Payback And NPV Relationship For Projects With Level Cash Flows But Differing Discount Rates
377(1)
Payback And NPV Relationship For Projects With Uneven Cash Flows
378(2)
Summary
380(1)
Chapter Twenty-One A Simple Rule For Conflict Resolution For Mutually Exclusive Projects
381(32)
The Net Present Value Rate Of Return Defined
382(3)
NPV And Rate Of Return Ranking Conflicts And Resolution
385(1)
The Multiple IRR Problem
386(1)
Mutually Exclusive Projects Of The Same Scale, But Different Timing Of Cash Flows
386(3)
Mutually Exclusive Project Ranking Of Different Scale
389(2)
Variable Interest Rate Problem
391(2)
Unequal Lives
393(3)
Computational Problems: Capital Budgeting
396(17)
Section Six Teaching Tips 413(18)
Chapter Twenty-Two Teaching Tips
415(16)
Sum Of Arithmetic And Geometric Series
415(1)
Applications
416(7)
Concluding Remarks
423(1)
Appendix
423(4)
Note
427(1)
Suggested Readings
427(4)
Index 431
Arun J. Prakash, PhD, is Knight Ridder Center Research Fellow and professor of finance at Florida International University. He also serves as director of the doctoral program in the College of Business.

Dilip K. Ghosh is professor of finance at Gulf University of Science and Technology (GUST), Kuwait, and director of research of the Institute of Policy Analysis.