This page contains some links to pages with material relevant to the first financial mathematics course.

• Section 01 current semester syllabus
• The Society of Actuaries Exam FM formula card.
• An introduction to interest, present value, and future value.
• There are many types of annuities and formulas for determining their values, thus the discussion is divided into parts 1, 2, and 3.
• Calculating loan repayment, interest paid, outstanding balances, principal repaid, and amortization schedules.
• Bonds are loans that governments and corporations take out.
• Calculating the rate of return of a cash flow.
• An examination of the term structure of interest rates.
• Duration and immunization of cash flows. The Society of Actuaries handout on duration and immunization.
• An examination of the factors which determine interest rates. The Society of Actuaries handout on the determinants of interest rates.
• Pricing interest rate swaps. The Society of Actuaries handout on interest rate swaps.