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Mathematical Interest Theory (Mathematical Association of America Textbooks) Best interest rates savings took this class with one of the authors in the fall and I would say that it serves as a nice warm-up to anyone studying for the FM exam. However, I thought that some of the concepts were unclear and that there weren't enough problems in the book for me to be fully comfortable with the topics covered. I'd recommend reading additional texts in preparation for the FM. Editorial Reviews Review Students pursuing an actuarial career as well as those seeking a mathematically based finances course stand to benefit from this informative, up-to-date, and above all, skillfully written treatise. Instructors and students of interest theory owe Daniel and Vaaler a debt of gratitude for their fine efforts. --Susan Staples, Texas Christian University Product Description Mathematical Interest Theory gives an introduction of how investments grow over time. This is done in a mathematically precise manner. The emphasis is on practical applications that give the reader a concrete understanding of why the various relationships should be true. Among the modern financial topics introduced are: arbitrage, options, futures, and swaps. The content of the book, along with an understanding of probability, will provide a solid foundation for readers embarking on actuarial careers. On the other hand, Mathematical Interest Theory is written for anyone who has a strong high-school algebra background and is interested in being an informed borrower or investor. The content is suitable for a mid-level or upper-level undergraduate course or a beginning graduate course. Mathematical Interest Theory includes more than 240 carefully worked examples. There are over 430 problems, and numerical answers are included in an appendix. A companion student solution manual has detailed solutions to the odd-numbered problems. Most of the examples involve computation, and detailed instruction is provided on how to the Texas Instruments BA II Plus and BA II Plus Professional calculators can be used to efficiently solve the problems. This is important for readers wishing to pass the SOA/CAS joint financial mathematics exam FM/2. However, this part of the book can be skipped without disturbing the flow of the exposition. Book Description Mathematical Interest Theory gives an introduction to how investments vary over time, and this book provides a solid foundation for readers embarking on actuarial careers. It is among the recommended reading options for the Society of Actuaries/Casualty Actuarial Society FM/2 exam. About the Author Leslie Vaaler received her Masters and Ph.D. from Princeton University. She is currently teaching at the University of Texas in Austin where she is Buck Consultants Associate Director of Actuarial Studies and Senior Lecturer in Mathematics. She has been teaching actuarial classes since 2000. James Daniel received his Masters and Ph.D. in Mathematics from Stanford University. He has been an Associate of the Society of Actuaries (ASA) since 1991. Since 1989, he has been the Director of the actuarial program at the University of Texas.