Financial Mathematics

Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - making on theoretical and practical problems of banking and insurance sector. The primary objective of writing this book is to provide an insight into the mathematical concepts essential for the students of commerce and management discipline. Even professionals form banking and insurance sector will find this book useful. This book has been brought out as a consequence of lectures given by the author to the management students of GGSIP University, Delhi. The author has taken into consideration the difficulty faced by the students, since there has been always lack of sufficient resources on this emerging field. This is book is unique in its comprehensive coverage of topics. This book has been organised in the form of 27 chapters and 9 appendices giving tables such as logarithm tables, mortality tables, and etc.