New PDF release: An Introduction to the Mathematics of Finance

By A. H. Pollard (Auth.)

ISBN-10: 0080217966

ISBN-13: 9780080217963

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Extra resources for An Introduction to the Mathematics of Finance

Example text

It does however always overstate the interest payments in the earlier years and understates them in the later years. Its use therefore 50 C O N T R A C T S A T "FLAT" RATES OF INTEREST tends to lead companies to overstate their profits in the earlier years and they then find it tougher going in the later years. Its use in longer term contracts (over 5 years) would lead to a serious early overstatement of profits. W e now describe the correct method—curiously called the actuarial method. T h e r e is n o t h i n g "actuarial" about it; it is simply the correct method.

B. T h e "capital gain" is here a loss of $4 on maturity which is an allowable deduction for tax purposes. e. a. a. a. a. a. '. V. 93 8-3 T h i s could also be obtained by interpolation, b u t it is simpler to use the result of Exercise 8-2. 75. V.

H . S . a. T h e R . H . S . a. By interpolation, R . H . S . a. a. a. and the new equation of value . . B. T h e "capital gain" is here a loss of $4 on maturity which is an allowable deduction for tax purposes. e. a. a. a. a. a. '. V. 93 8-3 T h i s could also be obtained by interpolation, b u t it is simpler to use the result of Exercise 8-2. 75. V.

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An Introduction to the Mathematics of Finance by A. H. Pollard (Auth.)


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