Churchill / Brown / Chandler Compound Interest Simplified

The Commonwealth and International Library: Social Administration, Training, Economics, and Production Division
1. Auflage 2014
ISBN: 978-1-4831-8638-2
Verlag: Elsevier Science & Techn.
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 400 Seiten, Web PDF

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.

Autoren/Hrsg.

Churchill, Guy E.

Brown, R.

Chandler, G.

Davis, W. A.

Inhaltsverzeichnis

1;Front Cover;1
2;Compound Interest Simplified;4
3;Copyright Page;5
4;Table of Contents;6
5;Foreword;8
6;Preface;10
7;Plan of Study;14
8;PART I;22
8.1;CHAPTER 1. Growth and Accumulation of Money;24
8.1.1;EXAMPLES;30
8.1.2;PERCENTAGES;31
8.1.3;DECIMALIZING MONEY;31
8.1.4;EXAMPLES;31
8.2;CHAPTER 2. Discounts and Present Values;32
8.2.1;EXAMPLES;35
8.2.2;DECIMALIZING MONEY;36
8.3;CHAPTER 3. Annuities in Arrears;37
8.3.1;EXAMPLES;39
8.3.2;DECIMALIZING SIXPENCES AND THREEPENCES;41
8.3.3;SELF-TEST;41
8.4;CHAPTER 4. Annuities in Advance;42
8.4.1;EXAMPLES;45
8.4.2;EXERCISE;46
8.4.3;DECIMALIZING MONEY;46
8.5;CHAPTER 5. Deferred Annuities;48
8.5.1;EXAMPLES;53
8.5.2;DECIMALIZING PENNIES AND TENPENCES;54
8.6;CHAPTER 6. Perpetuities;55
8.6.1;EXAMPLES;64
8.6.2;DECIMALIZING EVEN PENNIES;66
8.6.3;EXAMPLES;67
8.7;CHAPTER 7. Deferred Perpetuities;68
8.7.1;EXERCISES;70
8.7.2;EXAMPLES;71
8.7.3;DECIMALIZING ODDS AND ENDS;71
8.7.4;EXAMPLES;72
8.8;CHAPTER 8. Some Odd Annuities;73
8.8.1;EVEN ANNUITIES;76
8.8.2;EXAMPLES;77
8.8.3;UNDECIMALIZING MONEY;77
8.8.4;EXAMPLE;78
8.9;CHAPTER 9. Even Odder Annuities;79
8.9.1;EXAMPLES;81
8.10;CHAPTER 10. Mortgages and other Loans repaid by Level Instalments;82
8.10.1;EXAMPLES;86
8.11;CHAPTER 11. Schedule Construction;88
8.11.1;STANDARD METHOD OF SCHEDULE CONSTRUCTION;91
8.11.2;SCHEDULE;92
8.11.3;EXAMPLES;93
8.12;CHAPTER 12. The Anatomy of the Annuity;94
8.12.1;SCHEDULE;97
8.12.2;EXAMPLES;98
8.12.3;SCHEDULE;101
8.12.4;MORE EXAMPLES;103
8.13;CHAPTER 13. Cumulative Sinking Funds;105
8.13.1;EXAMPLES;109
8.13.2;MORE EXAMPLES;110
8.13.3;MORE EXAMPLES;111
8.14;CHAPTER 14. Accumulation of a So-called Immediate Annuity;114
8.14.1;EXAMPLES;117
8.15;CHAPTER 15. Accumulation of an Annuity-due;119
8.15.1;EXAMPLES;122
8.16;CHAPTER 16. Relationships between Annuity-values and Accumulated Annuity-amounts;124
8.16.1;EXAMPLES;125
8.16.2;EXAMPLES;132
8.17;CHAPTER 17. Capital Redemption Policies: The Annual Premium;133
8.17.1;EXAMPLES;138
8.18;CHAPTER 18. Capital Redemption Policies: The Retrospective Policy Value;140
8.18.1;EXAMPLES;143
8.19;CHAPTER 19. Capital Redemption Policies: The Prospective Policy Value;145
8.19.1;EXAMPLES;152
8.20;CHAPTER 20. Equations of Value;156
8.20.1;EXAMPLES;162
8.21;CHAPTER 21. Capital Redemption Policies: The Paid-up Sum Assured;164
8.21.1;EXAMPLES;176
8.22;CHAPTER 22. Some Odd Capital Redemption Policies;179
8.22.1;ALTERING A POLICY DURING ITS TERM;183
8.22.2;MORE EXAMPLES;186
8.22.3;FLUCTUATING PREMIUMS PLANNED AT THE OUTSET;187
8.22.4;MORE EXAMPLES;189
8.23;CHAPTER 23. Interest, Yields, Capital and the Stock Exchange;190
8.23.1;EXERCISE;197
8.23.2;EXAMPLES;200
8.24;CHAPTER 24. Valuation of Redeemable Securities;201
8.24.1;EXAMPLES;206
8.25;CHAPTER 25. Yields on Redeemable Securities;210
8.25.1;EXAMPLES;215
8.26;CHAPTER 26. Yields on Life Funds;216
8.26.1;EXAMPLES;218
8.26.2;GROSS INTEREST YIELD ON THE LIFE FUND;219
8.26.3;MORE EXAMPLES;220
8.27;CHAPTER 27. Convertibility: Nominal and Effective Interest Rates;221
8.27.1;INTEREST RATE 4% PER YEAR;222
8.27.2;INTEREST RATE 2% PER HALF-YEAR;222
8.27.3;EXAMPLES;229
8.27.4;OPTIONAL EXAMPLES;231
8.28;CHAPTER 28. Preparing for the Examinations;233
9;PART II: The Syllabus in More Detail;240
9.1;CHAPTER 29. Simple Interest Confounded;242
9.2;CHAPTER 30. Abstractions;251
9.2.1;EXERCISE;262
9.2.2;EXAMPLES;262
9.3;CHAPTER 31. Logs and Limits;264
9.3.1;EXAMPLES;272
9.4;CHAPTER 32. More Discounts;274
9.4.1;EXERCISES;286
9.5;CHAPTER 33. More Abstractions;287
9.5.1;EXAMPLES;296
9.6;CHAPTER 34. More Anatomy;297
9.6.1;EXAMPLES;309
9.6.2;REPRODUCTIVE AND REMUNERATIVE RATES;309
9.6.3;CAPITAL OUTSTANDING AT END OF THE tth YEAR;315
9.6.4;EXERCISES;321
9.6.5;MORE EXAMPLES;322
9.7;CHAPTER 35. Per Ardua ad Astra;324
9.7.1;THE MUSICAL ANALOGY;326
9.7.2;THE EXPANDING POPULATION ANALOGY;328
9.7.3;THE GINGER BEER ANALOGY;331
9.7.4;THE EXPANDING UNIVERSE ANALOGY;332
10;APPENDIXES;338
11;APPENDIX I: A Brief Refresher Course on Solving Equations;340
12;APPENDIX 2: Rules of Indices in Algebra and Arithmetic;350
13;APPENDIX 3: Summing Geometric Progressions;364
13.1;EXERCISE;367
14;APPENDIX 4: Interpolation;368
14.1;EXAMPLES;373
15;APPENDIX 5: Decimalizing Shillings and Pence;375
15.1;1. CONVERSION TO DECIMALS;375
15.2;2. CONVERSION FROM DECIMALS;378
15.3;3. INTRODUCTION OF DECIMAL COINAGE IN 1971;380
15.4;4. SIGNIFICANT FIGURES;380
16;APPENDIX 6: Index and Summary of Equations;383
17;APPENDIX 7: Tables NOT hitherto supplied to C.I.I. Examination Candidates in the Examination room;397
18;APPENDIX 8: Tables as hitherto supplied to C.I.I. Examination Candidates at the Examination;400