Theory of Interest

by Stephen G. Kellison

Book Overview

Presents a treatment of the mathematical theory and practical applications of compound interest, or mathematics of finance.

• Format: Hardcover
• Language: English
• ISBN: 0256091501
• ISBN13: 9780256091502
• Release Date: May 1991
• Publisher: Irwin/McGraw-Hill
• Length: 446 Pages
• Weight: 2.10 lbs.
• Dimensions: 0.9" x 6.6" x 9.6"

Customer Reviews

Books

I received the books very quickly. They were in great condition. I want to thank them for everything.

Good book, BUT...

Yes, I gave the book a five star rating but only b/c it's one of the very few actual textbooks out there devoted to this subject alone. Like a reviewer(s) already said, there aren't nearly enough examples in this book that match the type of questions that are on the actuarial exam... BUT, this book is great if you can use it in addition to OTHER practice problem sets that you find on your own. It's very interesting and it's kind of cool to read from the perspective that it's not common to have a calculator that handles some of the calculations that are required for this book's teachings. I had a math elective that was basically geared for exam 2. Our teacher was nice enough to provide us with tons of practice sets. He also assigned lots of problems from the book, but the practice sets he gave were pretty much the foundation for the exams he gave (and identical to the actuarial exam 2). If you are self-studying, you will definitely need to get outside practice sets otherwise you will be hung up on a lot of this book's mathematical theory questions (mainly resulting in your kicking yourself for looking for a needle in a haystack when the answer of the problem actually only required you to look for hay in the haystack... yes, I have the problem of trying to think over a problem... I'M WORKING ON IT!!!)

books for advanced econ learner

this is really a good book.it shows u the very correct concept on interest, which is different from the other economics' text.if u are interested in the most orthdox way of economics learning, this is an excellent choice!!!!

Excellent book...

Kellison's book is an appraisal industry standard. and is highly recommended for use by others who want to know how interest rates are calculated. For students who need supplementary material, I would recommend a good mathematics of finance textbook such as the later editions by Cissell, et al. or Simpson, et al. both titled, amazingly, Mathematics of Finance. Another excellent book of a less academic nature is Carrington, The Book of Interest and Money. For those who would understand both the maths and the calculator keystrokes, try the best book ever written (opinionated, aren't I) on this subject: Greynolds, et al. Financial Analysis Using Calculators: Time Value of Money. This book was published in 1980 by McGraw-Hill, but hasn't been superceded, to my knowledge, by anything better. Also, a must read in connection with this subject is regulation Z of the Truth-in-Lending Act. Study these materials and you will never have the wool pulled over your eyes by your friendly local banker, real estate broker, car finance company, loan shark, or rent-to-own furniture dealer. In fact, you'll know much more than they do and will be able to catch their mistakes (and they make them).

A bible to financial mathematical knowledge

Whoever masters this book will love and master any area of finance. However, readers must note that this is not a "light" book. It's rather academic and will require a good knowledge of calculus, statistics (for chapters beyond #9) and even stochastic process. If you are enrolling in an actuarial education program this is THE BOOK